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Pay Down Student Debt

    • Do you currently have student debt or will you have student loans due in the future?

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      • How much student debt do you have, or will you have upon completing college?

      • How many different student loans?

    • Do you know how much interest accumulates monthly or annually on every type of loan you have?

    • Are you currently carrying any other debt? Check all that apply.

    • Do you have a strategy/timeline for paying off this debt?

    • Why don't you have a plan for repaying your debt?

    • How often are you making payments on your debt?

    • What would help you create and stick to a repayment strategy?

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      • Don't let your debt control you - control your debt. Make a commitment today to start paying it off. Every little bit counts.

    • Do you maintain a budget?

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      • Interest rates can greatly affect your principal balance (the final amount of debt you end up having to pay off). Find out more about interest rates and APR here.

    • Have you thought about consolidating your student loans?

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      • Consolidating your student loans can help simplify your repayment plan and potentially lower your monthly payments. However, you may end up paying more in interest in the long run. Read more to discover whether or not loan consolidation might be a good plan for you. You can also use the debt consolidation calculator to discover other loan repayment options. Make sure to seek professional and credible advice before making a decision to consolidate your loans. A college financial aid or bursar office is usually a good place to start.

    • Are you aware of your options when it comes to loan deference or forbearance?

    • Are you aware of your options when it comes to loan deference or forbearance?

    • Have you or do you currently do any of the following? Check all that apply.

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      • Under certain circumstances, the federal government will "forgive" or cancel all or part of an educational loan. Read more about loan forgiveness to see if you qualify.

    • How often are you currently making payments on your student loans?

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      • A deferment is a period of time when repayment of the principal and interest of your loan is temporarily delayed. Forbearance is granted to you by a loan servicer that may allow you to stop making payments or reduce your monthly payment for up to 12 months. Read more about your loan repayment options.

    • Have you or do you currently do any of the following? Check all that apply.

    •  
      • Under certain circumstances, the federal government will "forgive" or cancel all or part of an educational loan. Read more about loan forgiveness to see if you qualify.

    • How often are you currently making payments on your student loans?

    • Are you behind on any payments or have you ever missed a payment?

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      • Why aren't you currently making payments?

    • Do you maintain a budget?

    • Is debt repayment included as part of your budget?

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      • If debt repayment isn't part of your budget, you're not really planning to pay it off. By creating or revisiting your budget, you can know with certainty whether you have the money to pay your bills on time, or need to re-strategize. The budget tool can help you reassess your financial situation.

    • Do you have a savings account?

    • Are you receiving collection calls?

    • Do you know how missing a payment might affect your credit?

    • Are you currently making the minimum payment required or more than the minimum payment?

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      • Paying just the minimum is fine, but it will take you longer to pay off your principal balance since your balance will increase with the accumulation of interest. When you're able to, consider paying the minimum and get ahead on your payments. Just make sure you stick to your budget!

    • What is your biggest motivation for paying down your student debt?

    • Why do you think you're inconsistent with payments?

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      • Consider making a goal to always make your payments on time - even if you can only pay the minimum. It's all about giving yourself (and your wallet) a little financial loving care.

    • What is your biggest motivation for paying down your debt?

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      • Late or missed payments can have a signi.cant negative impact on your credit score. Click here to find out more.

    • Why do you think you're inconsistent with payments?

    •  
      • Consider making a goal to always make your payments on time - even if you can only pay the minimum. It's all about giving yourself (and your wallet) a little financial loving care.

    • What is your biggest motivation for paying down your debt?

    • What is your biggest motivation for paying down your debt?

    • Would you consider taking a small part of that savings to start paying down debt on a regular basis?

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      • Since life is unpredictable, it's important to work towards building a safety net to protect yourself in case of job changes, health issues and other unexpected events. Saving is a good way to ensure you have enough money to be able to pay off. any debt you might accrue. Find out more benefits to saving here.

    • Would you consider opening a savings account?

    • How do you plan to control your student debt and avoid additional debt in the future? Select all that apply.

    •  
      • Go ahead and write out a detailed goal. Make it one you can stick to.

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      • Need a little support? Share your goal with friends and family. You're not the only one planning for your financial future...

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      • How much are you willing to set aside every month to help pay back your debt?

    • How else do you plan to control your debt or avoid additional debt in the future? Select all that apply.

    •  
      • Go ahead and write out a detailed goal. Make it one you can stick to.

    •  
      • Need a little support? Share your goal with friends and family. You're not the only one planning for your financial future...

    • How do you plan to control your student debt and avoid additional debt in the future? Select all that apply.

    •  
      • Go ahead and write out a detailed goal. Make it one you can stick to.

    •  
      • Need a little support? Share your goal with friends and family who can help you along the way.

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