There’s a lot of buzz right now regarding student loans, especially in light of the new repayment plan put into place by the U.S. Department of Education on December 21, 2012, called the Pay As You Earn Repayment Plan. So what exactly is the Pay As You Earn Repayment Plan? How is it different from the Standard Repayment Plan? What is loan consolidation? Is there any way to have my student loans forgiven?
We are covering this in a three-part blog series meant to help you understand all the terminology and how your choices with respect to your student loans affect your finances.