How to Reduce Student Loan Payments

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Reducing student loan payments can be achieved by making monthly payments towards interest payments. Discover why it's important to make interest payments while still in school with help from a financial aid officer in this free video on student loans and financial aid.

Part of the Video Series: Financial Aid
Promoted By Zergnet

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Video Transcript

Hi, my name is Brook Kramer, and I'm the financial aid officer at Argosy University in Salt Lake City, and today we're going to... I'm going to try and help you figure out how to make your payments smaller once you graduate from school for your student loans, and the first thing you can do while you're in school is if you have student loans, especially unsubsidized student loans, you're going to want to make monthly payments towards the interest payments. Student loans are automatically in deferment while you're in school at least half time, so if you're making at least the interest payments, that's one less payment you'll have to make once you graduate that won't be capitalized once you graduate as well. Another option is to consolidate your loans once you graduate. Students are allowed to consolidate their loans at least once, once they graduate from a school, which means at this time you can get a lower interest payment as well as increase the length of time you have to pay back your student loan. If you have any other questions, please feel free to check out our website at www.argosy.edu.

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