Does student loan repayment really matter when you're still in school? Yes! Yes. Seriously, yes. And there's at least one tangible reason why: the earlier you prepare to pay off your debt, the easier paying off that debt will be. But what does "preparing" really mean? Simple: Understanding the power of interest The cost of your debt isn't static. The longer it takes to pay it off, the more it'll cost. Every $1 you contribute now (you can make payments on your student loans even before you graduate!) could save you up to $2-3 over the life of a typical loan. Remembering to take advantage of your deferment period—when it arrives It's a good time to start saving your money so you can stay ahead of your impending payments. Avoiding new debt Especially from high-interest credit cards. Your student loan debt will be a big enough burden on its own. Learning your repayment options ahead of time PayBackSmarter can teach you how to pay your loans back faster, which makes them cheaper. Plus it's online. It's fast. It's easy. And the best part? It's free. |
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