After three and a half years, repayment on Federal Student Loans resumes October 1. It’s vital for borrowers to repay loans to avoid accumulating additional debt from interest, hurting your credit score, and negatively impacting your financial life.
Nationwide, 53% of educators currently have student loan debt with an average remaining balance of $58,700. For any educator with student loans to repay, it’s important to know your options for lessening the burden.
Until December 31, borrowers who may be holding ineligible loans or paying through an ineligible plan can receive retroactive credit toward Public Service Loan Forgiveness. Whether you’ve already made 120 payments or are just starting out, this is a golden opportunity to receive credit for every payment you’ve ever made.
Join a free webinar with CEA member benefits partner Cambridge Credit Counseling this fall to learn more about repayment options including the Biden Administration’s newest and best income-driven repayment plan, SAVE. The SAVE plan could offer you a lower monthly payment than any other income-driven plan currently available and any unpaid interest will be erased monthly.
Register for one of these upcoming virtual workshops for free information about ways to lessen the impact of student debt.
Thursday, September 28
5:30-6:30 p.m.
Register
Monday, October 23
5:30-6:30 p.m.
Register
Wednesday, December 6
5:30-6:30 p.m.
Register
