3 – Immediate repayment with principal plus interest
3 – Immediate repayment with principal plus interest Hold off on making any repayments until six months after you’ve dropped below half time or graduated. This is very helpful for students to find time to get themselves a job and have a source of income to support their living. After a grace period of 6 months which is usually provided only by the federal government, you get to start making your repayments towards Advantage Education Loan. Not many private student loan lenders offer this additional time. Therefore this is a major advantage of these loans to find time to establish financial stability. You can contact Advantage Education Loan to check if they provide any grace period during a national crisis or pandemic. 2 – Immediate repayment with interest-only Only make interest payments each month while you’re in school and start making full repayments six months after you graduate. As interest accrues for private student loans, leaving them not repaid can drastically increase the burden of repayments. Therefore, Advantage Education Loan offers a repayment plan where you can start making small payments by paying your interests while you are still studying in school. And start making payments towards principal value after your graduation. This will reduce the interest rates accruing on your total loan amount. You can make payments on interest as they are smaller by having a part-time job. Start making full repayments right away. This is your only option if you’re enrolled less than half time and are a student, but it’s also the least expensive option. […]