College grads will soon have to begin repaying their student loans and there’s a few different ways to go about it. InvestigateTV Consumer Investigator RachelDePompa talks with an expert from VACreditUnion about available payment plans.
, said new graduates typically must begin repaying student loans six months after graduation.
Dale said it’s important to log into loan servicer sites early to determine when payments start and how much they will be. “My advice would be to call the university or contact the lender that holds the loan and go through the different plans,” Dale said. “There’s also a calculator on theDale walked through the three main different types of student loan plans:A basic ten-year plan with set payments and interest throughout the loan term. This is the quickest repayment plan.Repayment terms are income based. Repayments are adjusted to income level every two years.
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