Understanding Your Student Loans

Understanding Your Student Loans

How much could a student be saving? In this example, two students borrowed federal student loans of $30,000 at a 7.5 percent interest rate. Student A reduced his cost $3,204.95 by making payments as soon as his loan entered repayment, compared to Student B, who deferred loan payments. Student loan borrowers should understand their rights and responsibilities. (NAPS)