Repaying College Debt

Be afinancial genius.

Borrow onlywhat you need!

College DebtShould BeGood Debt

Federal Student Loans

Private Student Loans

Credit Card Debt

Types of Debt

Subsidized & Unsubsidized

Federal Loans

6-month grace period

Tax deductible interest

Repayment options

Loan forgiveness options

Repayment Plans

Standard

Graduated

Extended

Income-Based

Pay-as-You-Earn

Income-Contingent

Income-Sensitive

Public Service Loan Forgiveness

Teacher Loan Forgiveness

Qualifying nonprofit or government agency

120 Payments

Direct Loans Only

Qualifying school district

5 years repayment

Loan Forgiveness

Consolidation

Direct Consolidation Loan

Simplifies repayment

Potential disadvantages

Deferment

Forbearance

Other Options

Private Loans

Use up federal options first!

Credit Cards

Draft a Budget

Fixed Expenses

Flexible Expenses

Monitor Spending

Minimize Other Debt

http://sonineties.tumblr.com

Resources www.studentaid.ed.gov

www.greenpath.com

www.mygenfcu.org/blog/student

www.consumerfinance.gov/students

Learn more & stay connected!

www.MyGenFCU.org