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February 14, 2014

5 Tips for Managing Student Debt

Heather loves National Public Radio and offering free advice to student loan borrowers and their families. She got to enjoy both last week as she sat down with Public Radio International's nationally-syndicated talkshow host Tavis Smiley to discuss how to avoid student loan debt or what to do once you’re in student loan debt.  Listen to the interview here.  

Heather's Five Tips for Managing Student Loan Debt:

1.  Everyone should fill out the Free Application for Federal Student Aid (FAFSA).

2.  Students should choose federal student loans before considering borrowing any private student loans.

3.  Student loan borrowers need to understand the differences between the various types of student loans they are likely to borrow (for example, interest rates, subsidized vs. unsubsidized, etc.)

4.  Student loan borrowers ought to stay in touch with the company that "services" their loans, update their contact information, and read and respond to all correspondence promptly.

5.  Student loan borrowers experiencing financial difficulty should consider whether choosing an income-driven repayment plan makes sense for them.

To learn more about getting a grip on your own student loans, attend Heather's free, streamable webinar, sign up for another of her in-depth training sessions, or visit our tools page.

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