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How Student Loan Amortization Works and How to Handle It

Student Loan Planner

Student loans are rapidly becoming part of everyday life for many people. When paying down your student loan balance, student loan interest, your monthly payment and your principal all interact through a process called amortization.

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A Sneak Peek At New Student Loan Rules Coming in July 2023

NCLC Student Loan Borrower Assistance

In November 2022, the Department of Education published final rules that will change regulations governing a variety of federal student loan cancellation programs as well as how interest impacts student loan burdens. The new rules will go into effect on July 1, 2023. . Across the board, these rules are a huge improvement.

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Income-Driven Repayment Plans

College Planners of America

Student loan balances have spiked in the last few years. To reduce this burden, President Biden announced the Student Loan Forgiveness Plan (the Plan) in August 2022. It forgives $10,000 of student debt for borrowers earning less than $125,000 per year, and up to $20,000 for former Pell Grant recipients.