Strategies for Student Loan Repayment
According to a recent survey, medical student debt has been steadily rising, and last year nearly 76% of medical students graduated with a massive amount of student debt. At eMedEvents , we understand the intensity of pressure that students go through, and so we created a list of strategies that might assist students in repaying their student loans. The five strategies for student loan repayment are: Student Loan Refinancing : Student loan refinancing is considered to be one of the most efficient methods to reduce your total amount of loan payments. A number of reputed financial firms offer these services to students. The process involves a private firm paying off your loans and then providing you with single repayment option that often has a lower interest rate. However, student loan refinancing loses the protection of federal loans including the prospect of Income-driven repayment as federal loans cannot be refinanced. Income-driven Repayment Plans [i] : If your fede