Student Loan Repayment Strategies for Millennials

Know your loans: Understand the types of loans you have and their terms. Consider refinancing: Refinancing can potentially lower your interest rate and save you money. Set up automatic payments: Automate your loan payments to avoid late fees and improve your credit score. Look into forgiveness programs: Research programs that may offer loan forgiveness for certain professions or circumstances. Make extra payments: Paying more than the minimum can help reduce the total interest you pay over time. Prioritize high-interest loans: Pay off high-interest loans first to save money on interest charges. Communicate with your lender: If you're struggling to make payments, talk to your lender about your options. Make a plan: Create a repayment plan and stick to it to pay off your loans as quickly and efficiently as possible.