We all deserve a little luxury in our lives, especially with short days and the chill of winter upon us, this is the time of year when we could use a little pick-me-up, the glowing warmth of a little bit of pampering to get through the solstice. But it’s tough to relax when all you can think about is getting your student debt under control. With these top financial tools you’ll be able to have your cake and eat it too.
1. Student Debt Repayment Assistant
In response to the massive issues entrenched in student loan culture, the Consumer Financial Protection Bureau has created a student debt repayment assistant on their website. The tool will guide you through the steps you can take with the loans you have in order to help you better understand your options.
2. National Student Loan Database
Many recent grads don’t have all the information they need about the loans they have. The national student loan data system is a government website that can retrieve your information from schools, guaranty agencies, the Direct Loan program, and other Department of ED programs.
3. YoBucko’s Student Loan Worksheet
Once you’ve got the information you need about your loans, you’ll want to organize it so you know what you’re looking at. YoBucko’s student loan worksheet let’s you enter in all the information you need to keep track of your debt.
4. Income-Based Repayment Calculator
Income-Based Repayment is one of the best student loan repayment plans you can get. Before you start the process of switching plans you may want to get an idea of what your new monthly payment will amount to. This calculator will help you figure it out.
5. Free Student Loan Calculators
Have you ever calculated your student loan payments for yourself? You should. Simply enter the required information and you can find out what your monthly payments should be as well what your income needs to be in order to reasonably make those payments.
6. Financial Awareness Counseling
This government site will help you figure out your finances by walking you through the tools and information you need to better understand your personal finances and how to deal with your student aid.
Still confused? It’s understandable. These tools can work wonders in helping you make some progress sorting through the chaos of your student debt, but it’s still an incredibly complex part of personal finance, especially if you’re trying to figure it out all on your own. These tools will help you make some sense of it but if you still find yourself in need of some expert assistance, there are student aid organizations who specialize in helping students manage and optimize their debt.