After more than three years paused, interest begins accruing on federal student loans on Sept. 1.
You don't have to stick with the standard repayment plan; there are several
that could lower your monthly payment. But if you've explored those options and the payment is still too high for you to afford, you have a few additional resources as a federal student loan borrower. If you are unemployed, returning to school, undergoing serious medical treatments or serving in the military, amay be the best way to keep your loans in good standing without having to make payments.
Depending on your situation and the type of loans you have, interest may keep accruing while your payments are paused, so it's best to leave these options as a last resort. You can also make interest-only payments to avoid having the interest added to your principal balance at the end of your deferment.Warren Buffett Guide to Investing
, which distills the billionaire's No. 1 best piece of advice for regular investors, do's and don'ts, and three key investing principles into a clear and simple guidebook.
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