Master Loan Freedom See Which Plan Saves You
Benefits of Choosing the Right Plan
Choosing the right loan repayment plan offers numerous benefits, including reduced financial stress, improved credit scores, and the potential to save money on interest. By aligning your repayment plan with your financial situation, you can avoid the pitfalls of default and maintain a healthy financial standing.
For instance, income-driven repayment plans can significantly lower monthly payments, making loans more manageable for those with lower incomes. According to the Federal Student Aid office, borrowers on income-driven plans can pay as little as $0 per month if their income is low enough1.