Slash Student Loan Debt with Genius Tips Inside
Exploring Repayment Plans
One of the first steps in tackling student loan debt is exploring different repayment plans. Federal loans offer various options, including Income-Driven Repayment (IDR) plans that adjust your monthly payment based on your income and family size. These plans can significantly reduce your monthly payments, making them more manageable2. Additionally, the Public Service Loan Forgiveness (PSLF) program can forgive the remaining balance on your Direct Loans after 120 qualifying payments while working full-time for a qualifying employer3.