Ryan Lane

The best way to pay off student loans fast is to pay more, but that’s not your only option. Refinancing and these other tips can help repay loans faster.

Pay As You Earn, or PAYE, is a federal student loan repayment plan that is good for married borrowers, grad students and those with qualifying low incomes.

It can take weeks or months to apply for a small-business loan and receive funding. Follow these steps to avoid wasting time or money.

Revised Pay As You Earn, or REPAYE, will be replaced by a new plan called SAVE this fall. In the meantime, REPAYE is available to most federal student loan borrowers and can limit payments to 10% of your discretionary income.

The student loan forgiveness tax bomb affects borrowers on income-driven repayment plans who don’t pay off their loans during their 20- or 25-year term.

You may qualify for a closed school loan discharge if your college closes while you’re attending or soon after. But, if you can get on a “teach-out plan,” think twice before pursuing loan discharge.

You can recertify income-based repayment with a paper form, but it’s smart to complete the process online and as early as possible.

Students or their parents can claim the American opportunity credit or lifetime learning credit for eligible education costs on their 2022 taxes.

Mar 8, 2024 ... Student loan borrowers often use the term “income-based repayment” to describe income-driven repayment plans that can lower monthly bills ...

Factors like your spouse’s income and federal student loan debt can affect how your payment is calculated under an income-based repayment plan.