Are there any restrictions on how long I can have a student loan?

All student loans in California have certain restrictions on how long they can last. Generally, federal student loans have a maximum repayment period of 10 years for most borrowers. Some may last up to 25 years depending on the type of loan and the amount borrowed. Private student loans will also have limits on how long you can borrow money for. Generally, you’ll want to repay these loans as quickly as possible to save on interest costs. Federal student loans are also subject to certain rules regarding loan consolidation and loan forgiveness. If you meet the criteria, you may be eligible to consolidate your loans and extend their repayment periods. Similarly, you may be able to have part of your student loan forgiven if you work in certain public service positions or have a disability. California law also includes certain options to help borrowers manage their student loan debt. For instance, the state has a Debt Repayment Assistance Program that may be able to help former borrowers struggling with student loan payments. Additionally, some public universities in California offer student loan repayment plans that allow borrowers to pay back their loans over time under certain conditions. Overall, there are a variety of options available to help California residents manage their student loan debt. Make sure to explore all available options, so you can find the best way to repay your loans while minimizing your overall costs.

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Are there any restrictions on how long I can have a student loan?

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