If you’re currently managing the challenges of student loan repayment, you’re certainly not alone. Paying off student loans isn’t fun, but it can be easier – and more affordable – with a revised approach to your current repayment plan.
You may not realize, but paying more than your minimum monthly payment or making a lump sum payment can help save you significant money over the life of your loan. Not only does it help reduce the amount of interest that will accrue, but it will allow you to pay of your loan sooner.
Check out the examples below: