If you are a single parent, there are some things you can do when you leave college to make sure that no live below the bread and butter for the next years to repay the loan from the college. Most of us have to pay back tens of thousands dollars, when you leave college for an amount of several hundreds or thousands of dollars per month. Here's one way to reduce these payments and have a better life after college is over.
The first thingYou can do is ask for a break. Down payment may be re-employed borrowers to postpone their college loans. Whether you took a Perkins loan or Stafford loan, you can extend it. Sometimes up to three years. You can even pay the interest while on deferred payment or not, who will benefit.
Another option is to refinance the loan. I remember when I leave the university, I was due to a higher percentage of refinancing. This was actuallyautomatically. Many of the loans for sale to other companies and you will automatically receive a smaller percentage of the new company.
This may be different now, because Fannie Mae and Freddie Mac will no longer be effective and are no longer a big problem. However, there are new businesses, which also allow you to extend payments and interest rate cuts rates to some extent. Why you might get a few hundred dollars a month.
The last thing that shouldconsidered is when the university for the first time, or when you make a single mother in college led to its conclusion, you may want to become a teacher. Look for federal grants, such as the TEACH grant, which must provide support for teachers' training college and a higher education program that can up to $ 4000 per year for students who want to become teachers.
Whatever your choice in life and in which direction you go, you mustRemember that you need to go, the establishment of the college, visited in a certain period of time to pay. It 'better to consider how much you pay now, especially if you're a single mother, as well as for you to offset the savings for federal subsidies for this balance. In this way you save when it comes time to pay the loan from the college.
