I need some advice about my student loans. I do not have family to ask as they have not been in the same situation( no loans). I had a small loan from undergrad and then for my postgrad schooling. They are all federal. I didnt have to pay them as I was in postgrad too and then with covid and pausing so I didnt really do more than one payment maybe? The interest restarted this year. I was on the SAVE plan currently it says Save Plan Pause Forbearance and payment resuming 2028 but its accuring interest. I work and an hourly worker, I get paid around 2500-4000 a month based of how much I make. I currently with interest have 80k in loans. (these are the only student loans I have). My husband and I have credit card debit and we are trying to pay down but I am worried my student loans hitting hard. Do I start paying now and how much? I also am worried me paying may affect any future plans I could be elligble about. Again I dont have anyone who has loans, my husband has private loans that he is paying off reguarly. A previous classmate said that if I started payments they will stop the forebarence may never allow for forgiveness. I do not know if this is true nor do I know what most things mean
Advice needed= should I start paying my student loans?
byu/raindrops_x inStudentLoans
Posted by raindrops_x
1 Comment
federal loan policy + forgiveness eligibility is shifting a lot rn — verify the ‘paying breaks forgiveness’ thing on studentaid.gov directly, your classmate may be wrong. on the broader Q though: cc debt usually carries a higher apr than federal student loans, so most of the time you knock cc down first while loans are in forbearance, then pivot back when payments resume