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Loan Strategies

Thinking strategically about how you repay your loans can save you thousands of dollars over the next several years.
With many student loans, you can use your award as a lump sum to "skip" a number of payments (and this can last for years) OR you can reduce your loan principal to lower your payments and get rid of your loan sooner. Check the site's repayment options resource for more details.
These considerations can also help you while you serve:
  • If you are considering the Public Service Loan Forgiveness (PSLF) program to wipe out your student loans in 10 years, you need to have Direct Loans as your lender. If you don't, you can consolidate your loans now. Details are at the site's Public Service Loan Forgiveness resource.
  • Which choice is better for you? National service forbearance or the Income-Based Repayment (IBR) program? Check the site's forbearance vs. IBR page to figure out what's best for you.

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