| The average student loan debt in America has been | | | | The second method of repayment involves taking |
| rising steadily over the past ten years or so and it | | | | out a consolidation loan that can payoff the majority |
| currently is at the highest level it has ever been in | | | | of your student loans by providing you with a new |
| history. College graduates are having a more and | | | | consolidation loan that you will have to make |
| more difficult time trying to pay back their debts, and | | | | payments on each month. You will no longer have to |
| the majority of college students utilize at least one or | | | | make multiple payments each month, and instead |
| two of the multitude of various alternative | | | | you will only have to pay this one payment each |
| repayment options that may be available with each | | | | month that will go towards your consolidation loan. |
| of their student loans. Doing this has made paying | | | | This can make paying back your student loans much |
| back their student loans a much easier process | | | | easier and more convenient, and it can save you a |
| overall, and it has made paying back such a debt | | | | lot of headache further on down the road. |
| burden much more feasible for millions of college | | | | The last repayment option I'm going to talk about |
| graduates. | | | | here involves attempting to adjust your monthly |
| The first alternative methods of repayment aren't | | | | payment amount with your student loan lender so |
| actually a way to payback student loans at all, and | | | | that you don't have to make your full payment each |
| are rather ways to delay having to make payments | | | | month. Most lenders provide their borrowers with a |
| on such loans. These options include forbearance and | | | | variety of adjusted repayment options such as |
| deferment, and both of these can push back when | | | | income-sensitive repayments, and interest-only |
| you have to make payments on your student loans | | | | repayments that can lower your monthly payment |
| by typically six, to twelve-month increments. It is | | | | for a certain amount of time. To take advantage of |
| much smarter to utilize your deferment time before | | | | these kinds repayment options you simply need to |
| your forbearances because the interest that accrues | | | | contact your lender and explain to them your |
| on your loan during your forbearance is capitalized | | | | situation to see what specific ones you qualify for. |
| onto the principle of your loan during this time. | | | | |