Are there any alternative repayment plans available for student loans?

Yes, there are alternative repayment plans available for student loans in New Hampshire. These plans can help borrowers manage their payments and make the process easier. One such plan is Extended Repayment, which allows you to extend your loan repayment term up to 25 years. Payments are typically lower under this plan and can make paying back your loan more manageable. Income-Driven Repayment programs are also available and can help lower payment amounts. These programs use your income and family size to calculate how much you can pay each month. You may also be eligible for loan forgiveness after you have made payments for a specific period of time. Other types of alternative repayment plans, such as graduated repayment and income-sensitive repayment, are available to borrowers in New Hampshire. These plans also use income and family size to calculate monthly payments. However, interest rates can increase over time, making graduated and income-sensitive repayment plans less desirable in the long run. Finally, there is debt consolidation, which allows you to combine multiple loans into one loan. This can make the repayment process easier as you only need to send one payment each month. Debt consolidation also often carries a lower interest rate, making it a more cost-effective option in the long run. Ultimately, each of these alternative repayment plans can help borrowers in New Hampshire manage their student loan debt. It is important to research the various options and find the best option for your unique situation.

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Are there any alternative repayment plans available for student loans?

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