If you’re dealing with student loan payments every month, this blog post is for you. Our goal is to help residents of our new Pearland apartments understand their student loans better. Student loans can be complicated, but there are a lot of ways to simplify them so that they work for your lifestyle. Whether you’ve got a huge pile of student loans or you just want to figure out how to deal with the small loan that you do have, the tips in the blog post below should prove to be useful.
Without further delay, let’s get right to the list of student loan tips. When you’re done reading through it, please be sure to share the link to this page with your friends! Better yet, go ahead and share the list of tips with your neighbors at Stella at Shadow Creek Ranch apartments!
Remember that forbearance is an option.
Most people don’t know that it’s possible to stop making huge payments on your loan for months at a time. In fact, most federal loans let you stop making payments for up to 12 months at a time, for a period of 3 years total. The catch, of course, is that your loans will still accrue interest. You won’t get any late fees for not making your monthly payments, but you will want to pay off the interest each month. Forbearance can be a great idea if you’re going to travel for a while, take some time off between jobs or otherwise experience a temporary loss of income.
Learn your payment plan options.
Income-driven repayment plans are intriguing because monthly payments are capped at 10-15% of your disposable income. Plus, you’ll be free of your loans after 20-25 years of payments — whether you’ve paid them off or not. If you want to go a different route, graduated repayment plans might be worth looking into. Your loan payments will increase every few years, but that might be okay if you anticipate getting steady raises.
Use the power of communication
If you’re worried about making a payment, or about how much your payments are costing you each month, remember that you can always call the people who handle your loans. More often than not, they’ll be able to find a repayment plan that can alleviate some of your stress.
We’ve reached the end of our list of tips you can use to get a handle on your student loans, but we’ll be back in February with a few more brand new blogs for our residents. At this time, we’d like to say how much we appreciate those of you who took a few minutes out of your busy schedules to read the latest blog from Stella at Shadow Creek Ranch. In the time between now and when our next post goes live, you can start your new year with a win by getting a handle on your student loans. Let us know if you make use of the advice above!
You can expect to see our next blog up on the website during the first couple weeks of February. If you feel like you learned something useful from this week’s post and you’d like to see the next one right when it’s posted, we encourage you to bookmark our blog page! After all, there’s no better way to enjoy easy access to all the blogs we post on our site. While you wait to read those new blogs, you can stay informed about everything happening in your apartment community by following us on our social media accounts! We’ll be posting about all the future resident events, special promotions and giveaways going on at your community of apartments in Shadow Creek Ranch.