Borrowing Money for School

5 Tips for Repaying Student Loans

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In Brief...

Student loans are a necessary evil in today's economy. Federal student loans have recently created a program known as "Income-Based Repayment" which caps your monthly payment at a manageable percentage of your annual income. The best way to take advantage of an Income-Based Repayment program is to lower the principal as often as you can. Those in the Armed Forces also have many options and should check with the appropriate military officials for advice. Private institutions are also following suit, so check with your employer to see if any programs are available where you work as well..

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