New graduates who are now facing student loan repayment may consider these helpful tips in managing their debt:
• A recent grad who hasn’t found substantial work may want to see if they qualify for forbearance or deferment.
• Student loan borrowers should fully understand their loan terms in order be aware of the range of repayment options.
• Borrowers who have other loans to repay in addition to student loans may want to manage their debts by consolidating their loans.
• Know that you can deduct up to $2,500 on the interest paid on your principal at tax time.
• Student loan borrowers may want to find out if they qualify for a graduated repayment plan or adjusted repayment plans based on their monthly income.
The Cincinnati-based lawyers at Ryan J. Ruehle, LLC can advise people who are having significant financial trouble repaying their student loan. If you are in such situation, we may be able to offer you solutions to help you address your debts. Speak with us today at (513) 621-0999 to find out how we may work for you.