Whether you are still deciding on college, taking out your first loans or are already in repayment, there is a lot to know about borrowing and repaying student loans. The volume of information can be overwhelming, so we've boiled it down to the nine facts that you need to know to manage your student debt. Think of this as the Cliffs Notes version of Equal Justice Works' free e-book, Take Control of Your Future: A Guide to Managing Your Student Debt.
- There are big differences between private and federal loans. Most private loans offer variable interest rates that may start low, but can -- and likely will -- increase. Also, commercial or private loans are never eligible for federal relief programs. Federal loans, on the other hand, qualify for federal relief programs and come with borrower protections such as fixed interest rates and deferment and forbearance in times of hardship.
If you want additional helpful and detailed information on these items and many more, download Take Control of Your Future, visit the educational debt section of Equal Justice Works' website, or sign up for a free student debt webinar.
Isaac Bowers is Associate Director for Law School Engagement & Advocacy at Equal Justice Works, overseeing the Student Debt, Student Engagement, and Law School Relations programs. He was previously responsible for the organization's educational debt relief initiatives. In that capacity, he wrote a weekly blog for U.S. News; conducted monthly webinars for a wide range of audiences; advised employers, law schools and professional organizations; and worked with Congress and the Department of Education on Federal legislation and regulations. Prior to joining Equal Justice Works, he was a Fellow at Shute, Mihaly & Weinberger LLP in San Francisco, where he represented citizen groups and local agencies in environmental litigation and land use and planning issues. Isaac received his J.D. from New York University School of Law.