jetru Posted April 28, 2011 Posted April 28, 2011 I've been looking at the repayment options for Federal Direct Loans and they are retarded. Most of the options require me to pay in 10+ years. I want to take out a loan of around $20-30k for 2 years for my MS, and I'm pretty certain I can repay that amount in another 2-3 years max! I don't want to drag it out over 10 years paying shit loads of interest. Is this possible?
palabared Posted April 28, 2011 Posted April 28, 2011 Are you sure your not looking at the 10 year government loan forgiveness plan?
rising_star Posted April 28, 2011 Posted April 28, 2011 No one is stopping you from paying off the loan sooner than the repayment schedule says.
chaospaladin Posted April 28, 2011 Posted April 28, 2011 Is it possible to pay off your loans before they bill you the first payment? chaospaladin, prolixity and nonymouse 2 1
rainbowworrier Posted May 18, 2011 Posted May 18, 2011 yes, but then why are you taking out loans in the first place?
Just me Posted May 22, 2011 Posted May 22, 2011 Ehh, those options are ridiculous only because most people who take out student loans don't have a pot to pee in or a window to throw it out of. Then they get degrees in jobs that pay minimum wage plus a one-dollar bonus, hence the need for 25 or 30 or more years to pay off a $20K loan. That, or they just want to try and milk you for as much interest as they can get.
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