These 5 tips can help you manage your student loans more efficiently and better prepare you for student loan repayment. Maximize your federal student loansNext, you should maximize your federal student loans before borrowing private student loans. While the cost for undergraduate student loans and graduate student loans increased 18.4% and 13.0%, respectively, on July 1, federal student loans provide several borrower benefits. For example, with federal student loans, you have access to flexible student loan repayment programs as well as options for deferment and forbearance based on your financial situation. It can help guide your student loan borrowing decisions - and perhaps the type of school you decide to attend - if you know what your approximate income and monthly student loan payments will look like after you graduate.

Source: Forbes July 06, 2017 13:07 UTC