How do I repay my student loans?

In Pennsylvania, there are several repayment options for student loans. It is important to understand the different repayment plans and the options you have so you can choose the one that best fits your budget. The Standard Repayment Plan is for borrowers who want to pay off their loan in the shortest amount of time. With this plan, you will pay a fixed amount per month for up to 10 years. The amount is based on your loan balance and interest rate. Income-Based Repayment is a plan for borrowers who have a limited budget. Under this plan, your monthly payment is determined by your income and family size. You may also be eligible for loan forgiveness after 20 or 25 years, depending on when you took out the loan. If you are unable to make your payments, you should contact your loan servicer to discuss other options. You can also look into deferment or forbearance if your loan is in default. Deferment allows you to temporarily postpone payments, while forbearance allows for reduced payments or a temporary lapse in payments. It is important to keep up with your loan payments. If you are having trouble repaying your loan, contact your loan servicer to discuss your options.

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How do I repay my student loans?

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