Making Payments On Student Loans
Saturday, November 1st, 2008Generally when you have loans from your years in school they require equal monthly payments. A graduate student loan does not have to be paid back until after you are out of school and when you do begin to pay the payments are equal and paid over a specified period of time. If you send 2 or 3 times the amount due in a month it will simply prepay the next 2 or 3 payments and not reduce the overall amount due. When you borrow money for education (unless you manage to get a federal perkins loan cancellation) you will need to consider that this money will be owed after a specified time and will have a monthly payment.
