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Learn The Proven Strategies To Lower Your Monthly Student Loan Payments And Find Loan Forgiveness.

Getting out of student loan debt can be one of the hardest financial tasks of anyone's life. But what most people don't realize is that there are a lot of different options for getting out of student loan debt. 

For most people, there are multiple different types of student loan repayment plans to choose from. Even with private student loans, some lenders now offer multiple repayment plan options. Then, there are student loan forgiveness programs: and there are hundreds across the country. There are also ways to get your student loans discharged in special circumstances.

Whether you have Federal loans, private loans, or both - we can help you learn the proven strategies to lower your monthly payments, find loan forgiveness programs, and build a plan that will allow you to get student loan debt free!

Enter your Name and Email Below To Learn More:

Table of Contents
Student Loan Facts
Paying For College
Navigating Repayment
Student Loan Forgiveness
Student Loan Refinancing
Special Programs During The Payment Pause
Free Tools To Help 
Read More Student Loan Content

Student Loan Facts

Before we dive in to everything student loans, let's cover some basic facts about student loan debt in the United States:

  • Average student loan debt: $39,351
  • Median student loan debt: $19,281
  • Average student loan monthly payment: $393
  • Median monthly payment on student loan debt: $222
  • Percentage of borrowers with growing loan balances: 47.5%
  • Percentage of borrowers who are more than 90 days delinquent: 4.67%
  • Average debt load for 2021 graduates: $30,600
student debt and forgiveness by state

May 3, 2023

Average Student Loan Debt By State In 2023

We break down the average student loan debt for each state. Find out what student debt loads look like for your state and see how you compare.

student debt and forgiveness by state

Average Student Loan Debt By State In 2023
Average Student Loan Debt

June 28, 2021

Average Student Loan Debt By Year (Graduating Class)

We break down the average student loan debt by year for each graduating class and highlight the trend of growing student loan debt.

Average Student Loan Debt

Average Student Loan Debt By Year (Graduating Class)
Average Student Loan Payment

June 9, 2021

What Is The Average Monthly Student Loan Payment For US Borrowers?

The average monthly student loan payment in the US is $393. See what the average borrower can expect to pay on each type of repayment plan.

Average Student Loan Payment

What Is The Average Monthly Student Loan Payment For US Borrowers?

Here are some useful links to find out who services your loan or can help you with your student loan debt:

Complete List Of Student Loan Servicers

Full List Of Student Loan Debt Collectors

Full List Of Student Loan Lenders

Paying For College

One of the best ways to lower that amount of student loan debt you are borrowing is to navigate paying for college effectively. Effectively paying for college means lowering the cost of attendance, maximizing your financial aid, and borrowing smart.

The simple truth is that college is an investment - one that costs both time and money. The goal of this investment is to earn more over your lifetime than if you didn't go to college. But what if you spend too much, and those future earnings don't outweigh the alternative? That's a problem. 

Saving For College

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  • The Average Cost Of College
  • Is College Worth It?
  • 529 Plan Guide By State
  • How Much Should You Save For College By Child's Age?

Financial Aid

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  • Financial Aid Programs By State
  • Military And VA Education Benefits
  • How To Find Grants For College
  • How To Find College Scholarships
  • How To Fill Out The FAFSA

Borrowing

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  • International Student Loans
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  • Best Income-Sharing Agreements

Navigating Repayment

So you have student loans and you want to know what to do next? Let's talk about navigating repayment. This means finding the optimal repayment plan based on both your income and your goals - like maximizing student loan forgiveness or paying them off as quickly as possible.

For most borrowers, an income-driven repayment plan will be the best option.

Student loan repayment plan infographic

To start repayment, you should assess your situation to decide if you're going to go for the lowest student loan payment possible (in order to maximize loan forgiveness), or to try any pay off your loans as quickly as possible. A good rule of thumb is this:

  • If you're eligible for a broad student loan forgiveness program like Public Service Loan Forgiveness, you should get your payment as low as possible to maximize your loan forgiveness.
  • If you owe more in student loan debt than your salary, you likely want to have the lowest payment in order to maximize your future loan forgiveness.
  • If you owe more in student loans than your salary, you likely want to maximize debt repayment if you don't qualify for loan forgiveness.
How To Use A 529 Plan To Repay Student Loans

March 7, 2022

How To Use A 529 Plan For Student Loan Repayment

You can use a 529 plan to repay up to $10,000 in student loans – but there are some caveats you need to know.

How To Use A 529 Plan To Repay Student Loans

How To Use A 529 Plan For Student Loan Repayment
Lower Your Student Loan Payment

August 23, 2021

5 Legal Ways To Lower Your Student Loan Payment

Here are five different legal ways that you can lower your student loan payment, by switching repayment plans or refinancing your loans.

Lower Your Student Loan Payment

5 Legal Ways To Lower Your Student Loan Payment
student loan repayment plan

November 21, 2019

How To Select The Best Student Loan Repayment Plan

Are you looking for the best student loan repayment plan that works for your unique financial situation? Take a look at your options here!

student loan repayment plan

How To Select The Best Student Loan Repayment Plan

Student Loan Forgiveness

We estimate that roughly 50% of all student loan borrowers qualify for some type of student loan forgiveness program - whether total or partial. Almost every student loan forgiveness program is based on your repayment plan type or employment. However, there are a few state-based programs that provide loan forgiveness for completing a qualifying activity (like buying a house in the state or moving to a certain area). 

However, navigating the various student loan forgiveness programs can be tough. The most popular program, Public Service Loan Forgiveness (or PSLF), requires you to meet 3 criteria for 10 years. It can be tough.

Note: We do have a full guide to Biden's Student Loan Forgiveness Proposal. However, the plan is currently blocked by the courts and may not go into effect.

Here's some of our most popular guides to student loan forgiveness.

borrower defense to repayment

September 23, 2022

Borrower Defense To Repayment Student Loan Forgiveness

Borrower defense to repayment allows for student loan forgiveness when borrowers were defrauded by their college.

borrower defense to repayment

Borrower Defense To Repayment Student Loan Forgiveness
Public Service Loan Forgiveness

August 1, 2022

Public Service Loan Forgiveness [Ultimate Guide]

Have a question about the Public Service Loan Forgiveness (PSLF) Program? Start here with the ultimate guide! Find out which loans qualify.

Public Service Loan Forgiveness

Public Service Loan Forgiveness [Ultimate Guide]
wait to repay your student loans

July 5, 2022

For-Profit College Student Loan Forgiveness List

Here is the for-profit college student loan forgiveness list that qualify due to being closed or having lawsuits due to fraud.

not repay your student loans

For-Profit College Student Loan Forgiveness List
Ways To Get Student Loan Forgiveness

June 18, 2021

Student Loan Forgiveness Programs (The Complete List)

There are many ways to get student loan forgiveness, including public service, volunteer work, medical studies, the military, or law school.


Student Loan Forgiveness Programs (The Complete List)
Student Loan Forgiveness for Teachers

June 17, 2021

Student Loan Forgiveness For Teachers

There are multiple ways to get student loan forgiveness for teachers, including PSLF, Teacher Loan Forgiveness, Perkins Forgiveness, and more.

Student Loan Forgiveness for Teachers

Student Loan Forgiveness For Teachers
Student Loan Forgiveness By State

May 2, 2015

The Full List Of Student Loan Forgiveness Programs By State

Student Loan Forgiveness Programs by StateForty-seven states and the District of Columbia all have special student loan forgiveness programs for residents of their states. These plans are different than the federal programs you’ve probably heard of – like Public Service Loan Forgiveness. Many of the programs are in public service fields, such as health care, teaching, dentistry,

Student Loan Forgiveness By State

The Full List Of Student Loan Forgiveness Programs By State

Student Loan Refinancing

Student loan refinancing can make sense in certain circumstances. It's important to understand what student loan refinancing is (especially compared to student loan consolidation). Student loan refinancing is the process of getting a new private loan to replace your existing loans (either Federal or private). Student loan consolidation is the process of getting a new Federal loan to replace your existing Federal loans (and it's free). 

It can make sense to refinance your student loans if you already have private loans and can save on interest. It can also make sense if you're going to pay off your Federal loans in less than 3 years and don't qualify for any types of loan forgiveness (which is also why many doctors benefit from refinancing their student loans).

Here are some of our guides to student loan refinancing:

Best Medical School Loan Refinancing

November 9, 2022

Best Medical School Student Loan Refinancing

Medical school student loan refinancing makes a lot of sense for physicians to save money and get out of debt faster.

Best Medical School Student Loan Refinancing

Best Medical School Student Loan Refinancing
Best Places To Refinance Student Loans

May 15, 2019

Best Student Loan Refinance Companies In June 2023

We break down the ten best student loan refinance companies and their interest rates, perks, qualification requirements, and more.

Student Loan Refinancing

Best Student Loan Refinance Companies In June 2023
Student Loan Refinancing Bonuses

May 6, 2018

Best Student Loan Refinancing Bonuses And Promotional Offers Of June 2023

Before refinancing your student loans, make sure you’re looking for the best student loan refinancing bonuses that could sweeten the deal beyond APR, fees, and more.

Student Loan Refinancing Bonuses

Best Student Loan Refinancing Bonuses And Promotional Offers Of June 2023

Special Programs During The Payment Pause

During the pandemic, several programs were put into place to help borrowers with their student loans. Notably, student loan payments have been paused since March 2020. 

These programs are all aligned to help borrowers stay afloat during the pandemic and hopefully resume their loan payments in a better place.

how to invest in startups

August 18, 2022

Student Loan ‘Fresh Start’ Program: Helping Borrowers Out Of Default

The Fresh Start program is designed to help 7.5 million student loan borrowers get out of default on their student loan debt.

how to invest in startups

Student Loan ‘Fresh Start’ Program: Helping Borrowers Out Of Default
PSLF v TEPSLF v Biden Waiver

January 16, 2022

PSLF vs. TEPSLF vs. The PSLF Waiver

There’s been a lot of confusion around what PSLF reform has been made, and what each program allows, so we break it down.

PSLF v TEPSLF v Biden Waiver

PSLF vs. TEPSLF vs. The PSLF Waiver
Quarantine Student Loan Debt

March 18, 2020

Covid-19 Student Loan Relief Programs And Assistance

The U.S. Government is likely to issue a nationwide quarantine to contain the coronavirus. What does that mean for your student loans?

Quarantine Student Loan Debt

Covid-19 Student Loan Relief Programs And Assistance

Free Tools To Help 

Here are some of our favorite free tools to help you get out of student loan debt - whether you want to DIY or get professional help to master your student loans:

The Definitive Guide to Student Loan Debt

Check out our student loan guide >>

Student Loan Debt Forum

Ask questions in our Student Loan Forum >>

Student Loan Calculator

Student Loan Calculator >>

Read More Student Loan Content

We have hundreds of articles related to student loans. Check out our full student loan archive here:

Custom Choice Student Loans Review

June 6, 2023

Custom Choice Student Loans Review 2023

Custom Choice claims to offer flexible repayment options and competitive APRs on its student loans. Learn more in our Custom Choice Student Loans Review.

Custom Choice Pinterest Image

Custom Choice Student Loans Review 2023
How To Handle Basic Living Expenses During Student Loan Repayment

June 5, 2023

Student Loan Repayment Will Restart In September – Yes, Really This Time

Federal student loan repayment will restart in September 2023 due to the passage of the debt ceiling deal.

How To Handle Basic Living Expenses During Student Loan Repayment

Student Loan Repayment Will Restart In September – Yes, Really This Time
401k student loan repayment

June 2, 2023

Should You Use Your 401k For Student Loan Repayment?

Many college graduates have considered using their 401k for student loan repayment. But is it a good idea? Learn more.

401k student loan repayment

Should You Use Your 401k For Student Loan Repayment?
Subsidized vs Unsubsidized Student Loans

May 19, 2023

Subsidized vs. Unsubsidized Student Loans

Considering taking out subsidized or unsubsidized student loans? Read this first and know the difference when it comes to Federal Direct loans.

Subsidized vs Unsubsidized Student Loans Infographic

Subsidized vs. Unsubsidized Student Loans
Federal Student Loan Interest Rates Set To Rise This Fall

May 10, 2023

New Interest Rates On Federal Student Loans For 2023-2024

The interest rates on federal student loans for 2023-2024 school year are set to rise again to the highest in a decade.

Federal Student Loan Interest Rates Set To Rise This Fall

New Interest Rates On Federal Student Loans For 2023-2024
student loans

May 10, 2023

President Biden Has Forgiven The Most Student Loans To-Date

President Biden has forgiven more student loan debt than any previous president in history, and is still working to forgive more loans.

Aidvantage student loan servicer

President Biden Has Forgiven The Most Student Loans To-Date

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