|PAY SMART: Our advice for managing student loan payments|
One of the crucial tips I told her about was to look into "income-based" repayment plans, where monthly payments are capped at 15 percent of your income after basic living expenses, to help mitigate expensive fees. I also explained that students shouldn't consolidate their debt unless they have no other choice, as it can increase interest rates considerably.
To get more of the information I offered Erin, read her article in full. If you have any more questions regarding student loan payments, feel free to leave a comment here, or reach out to me directly via email.