10 February 2023

What is the best way to repay the education loan faster?

The article discusses the best way to repay an education loan faster. It suggests that borrowers should make regular payments, use a loan calculator to plan the loan repayment, and consider refinancing if the loan rate is higher than the current market rate. Furthermore, making extra payments and paying off the loan principal faster can help lower the total interest paid. Additionally, borrowers should take advantage of any loan forgiveness options, such as income-driven repayment plans or public service loan forgiveness. Finally, budgeting and setting aside extra money each month to put towards the loan repayment can help the borrower pay off their loan faster.