Mark welcomes back Elaine Griffin Rubin, Senior Contributor and Communications Specialist with Edvisors, and they discuss nine federal loan repayment options.Here are some of the things this very meaty interview covers:
1) A description of the "Standard Repayment plan" as well as the pros and the cons of this plan
2) A description of the "Extended Repayment plan" as well as the pros and the cons of this plan
3) A description of the "Graduated Repayment plan" as well as the pros and the cons of this plan.
4) A description of consolidation and a discussion of when consolidation makes sense.
5) A description of what is involved in changing your repayment plan
6) A description of the Income-Contingent plan, the PAYE,plan, the REPAY plan and the income-contingent repayment plan
7) Finally, Elaine talks about Common Mistakes you see when it comes to choosing a plan (Length 1:04:06)