Unlike a mortgage, or an auto loan, student loans are their own species of debt. Payments can be based on income if you qualify. The balance can be forgiven over a certain period of time if you qualify. You can defer payments or put the loan into forbearance if you qualify. Student loans might even be paid off by the government one day, but for the time being student loans must be repaid.
Looking for ways to reduce your monthly payment can help your cashflow situation. If your employer offers to help pay off your loans, then ask them about this benefit. If you have multiple loans, it may make sense to consolidate them if eligible. This checklist gives you many avenues to approach your student loan repayment.
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