Repayment Tips

Repayment Essentials

Introduction

Chapter 1:
Manage Your Loans

Chapter 2:
Making Your Payments

Chapter 3:
Interest Rates for Student Loans Repayment

Chapter 4:
Customize Your Payment Terms

Chapter 5:
Help During Repayment

Chapter 6:
Questions About Repayment

Chapter 7:
Student Loan Financial Terms

You don’t have to be a financial genius to get your accounts in order and your loans paid off. When it comes to whittling down your debts and avoiding falling behind on payments these small actions can make a huge difference in paying off your student loan in full, more quickly.

Repayment Tip #1
Set up automatic withdrawals from your bank account for loan payments when you get paid. If you don’t see the money, you won’t be tempted to spend it.

Repayment Tip #2
Round your payment up to the nearest $50 or $100 increment. If your payment is $386/month, bump it up to $400. You won’t miss that extra $14, and every little bit pays your loans off faster.

Repayment Tip #3
If your income goes up, increase your loan payments. Make your loan payments a percentage of your earnings, instead of a specific amount.

Repayment Tip #4
Bonus cash? Side job, inheritance, 50/50 win, wherever it comes from, put it towards your loan. It might be hard in the short term, but you are buying your future financial freedom. It will pay off in the end.

Higher Ed Points

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Use Loyalty Points at HigherEdPoints.com to make payments on your Alberta student loans.