Life Events: Paying Off Student Loans

Life happens. Will you be ready?
Throughout your investing life, you're going to experience life events — some planned, some not — that will affect your finances.
We're here to help you prepare for those critical times of financial change.

Paying off student loans

There are many strategies that could help you manage student loans efficiently. These resources can help you get started.
Keep in mind:
Consider paying extra each month to reduce the loans with the highest interest rates first
Think about ways to enhance your income, like a second job
Explore jobs that offer subsidies or debt forgiveness

Loan repayment

Cash Flow Calculator

This tool helps you estimate your current monthly cash flow, allowing you to create a more accurate budget.

Play the video about Delaying
student loan

If you're unable to afford your monthly loan payment, there might be options to delay repayments.

After college: Repaying your student loans

When it comes to repaying your school loans, it's likely that you'll have some options to consider.

3 ways to repay student loans

Repaying federal student loans may never be stress free, but you can choose from a number of repayment plans meant to suit different financial situations.

Income-based student loan repayment plans

These plans can keep your payments low enough to manage on your income, but they have pros and cons.
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Any information presented about tax considerations affecting your financial transactions or arrangements is not intended as tax advice and cannot be relied on to avoid any tax penalties. Neither Merrill Edge® nor its Financial Solutions Advisors provide tax, accounting or legal advice. You should review any planned financial transactions or arrangements that may have tax, accounting or legal implications with your personal professional advisor.