First, know what kinds of loans you have. We can borrow money to attend college from either the federal government or private banks. It’s quite possible you have both types of loans. You should always borrow from the federal government first. Why? Federal loans offer much more flexibility than privately issued loans. There are different monthly payment plans based on income. In some cases you can defer payment if you return to school or are underwater financially. More generous options are available if you work in selected public service occupations too. The Department of Education provides an
...more
