: Early in the term, a larger portion of your payment often goes toward interest; as the balance decreases, more of your payment is applied to the principal.
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: Focus on paying off the loan with the highest interest rate first while making minimum payments on others. This is mathematically the most cost-effective method. : Early in the term, a larger portion
: Common for federal student loans, these plans cap your monthly payments at a percentage of your discretionary income and may offer forgiveness after 20–25 years. Learn more : Focus on paying off the
: The length of time you have to repay the loan. Longer terms lower your monthly bill but increase the total interest paid over time. Common Repayment Structures