IDR Archives

How to Pay Off $40,000 in Student Loans

Finding a way to pay off $40,000 in student loans presents some unique challenges because it is right on the border of many strategies.

Repayment options for Parent PLUS loans include income-driven repayment plans, loan forgiveness, and refinancing.

Getting the full value of federal student loan forgiveness programs requires more than just paying the minimum to maximize forgiveness.

Changing employers sometimes means that it is time to change your student loan repayment strategy.

The wait for Income-Driven Student Loan Forgiveness takes decades. In some cases waiting for debt forgiveness is the more expensive strategy.

Student loan forgiveness is a great way to erase debt, but it isn’t always the best decision for all borrowers.

Income-driven repayment plans often mean $0 per month payments and eventually loan forgiveness for borrowers living on social security.

The benefits of federal student loans go far beyond interest rates.

Yearly income certification trips up many federal borrowers and this problem could easily be avoided by automating the process.