Student Loans: Planning Possibilities and Consequences Beyond CollegeWhen: 10/14/2021
Federal student loans are very different from other types of loans. There are many repayment options, and it is difficult to understand the long-term implications of choosing one plan over another. What makes student loans unique is that the Income-Driven Repayment plans and forgiveness programs allow federal student loan borrowers to pay less than they borrowed. Therefore, to figure out how much college students and parents can afford, the borrower's income level and the type of employment during the years of repayment may be more relevant than the actual price tag.