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For many recent graduates, the prospect of repaying student loans can seem daunting.
However, careful budgeting and examining all of the repayment options can help you manage your student loan debt without feeling overwhelmed.
This type of loan is handled as a share certificate loan, meaning the amount loaned to you will be placed in a share certificate for the length of your loan.
Most student loans offer a grace period of six to nine months after you stop attending school before loan repayment kicks in. Get a sense of how many loans you have and how much you owe.
Then, create a budget to determine how much you can dedicate to your repayment plan.
The final APR may differ from the APR in the above results due to additional fees that may be applicable.
Please contact a Members 1st Credit Union loan specialist for an accurate estimate on your personal finances.
Payments are only required when you use it and when you pay the balance down, it will be ready to use again.