What is the best financial strategy for paying back student loans?

Let’s learn what is the best financial strategy for paying back student loans. The most accurate or helpful solution is served by wiki.answers.com.

There are ten answers to this question.

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Answer:

Yes, I know all Federal Student Loans start repayment 6 months after graduation.

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How does paying my student loans affect my credit?

I am trying to raise my credit.. will paying my student loans off help my credit? my finances: Store Credit Card: 300 limit / 0 balance (paid) mastercard: 400 limit / 0 balance (paid) store card: 1000 limit: 200 balance Student loans Private: 4k (have...

Answer:

Paying all of your debt all the time helps your credit. Owing very little and paying off fully can increase...

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Paying Stafford student loans more often = less total interest?

I have a few options to repay my student loans. 1) I could set up weekly automatic payments with my bank (not giving them any more money than on a monthly payment plan...just paying more often). I suspect this will make it so I will pay less total interest...

Answer:

Take the monthly auto payment. If you ever have extra cash you can send that separately and mark it...

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Paying principal on student loans while in school & consolidating?

i just got a federal student loan and i received more money than i needed (but i wasnt sure how much id need at the time) so now that i have the check from whats leftover can i pay that back to the company on my loan before it starts collecting more...

Answer:

First of all, what kind of federal loan did you take out? If you took out a Subsidized Stafford Loan...

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Paying off student loans while deferred?

My husband has previous student loans that I am trying to help him take care of while he's deployed. His payments are now up to date (did have a past due balance). However, I sent in an application for the civil rights thing, i forget what its called...

Answer:

If his loan is subsidized then the government pays the interest wwhil it is on a deferment. so you would...

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Paying back student loans?

I am in graduate school right now and do no have to pay back my student loans until I graduate. I took out about 50,000 in private loans through citibank and they said I have to pay back $550 a month as soon as I graduate even if I don't have a job....

Answer:

woa dude...I hope you're in Law or med school or something. Because that is a lot!

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What is the best strategy for paying off student loans?

I want to have a long term savings account to address expenses such as unforeseen auto repairs, furniture, etc. But I fear I'm incurring more costs by exchanging a smaller loan payment for a savings account balance. The question is, is it a better strategy...

Answer:

Now this is from the perspective of an American.  I am not sure of the British laws on student loans...

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Best strategy for paying student loans?

I’m in grad school and work full time. I have several Federal student loans in deferment, all of which are subsidized or unsubsidized with different interest rates. I have an extra $500 each month that I'd like to use towards my loans...

Answer:

These are good interest rates all around, something you'd be well off to pay back slowly. However, you...

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Is it a better strategy to pay off one student loan at a time, or increase payments to all student loans in equal distributions each month?

I have 3 student loans - all Federal and with the same interest rate, but with varying balances - and am planning to pay all of them off (early) over the next 2 years. I will continue to make regular payments on all student loans. In terms of minimizing...

Answer:

You could apply the debt snowball method to your student loans. The snowball method calls for paying...

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Strategies for paying down student loans

I have several federal student loans from graduate school. They are in groups according to interest rate (5-8%) and the balance on each varies, from $2500-$60,000. Is there any benefit to proportioning the payment to each group, or strategy for paying...

Answer:

If you are planning on having your loans forgiven after income-based repayment, it's a better idea to...

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