How to create a student loan repayment plan

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The Biden administration is looking to extend the pause on federal student loan repayments to August 31.

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Put a plan in place to pay off this debt and work on your long-term financial goals.

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Study your payment plan. With federal student loans, you can choose your payment plan options.

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Consider loan consolidation if you have taken multiple student loans from multiple servicers.

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If your bank account makes automatic payments, you receive a 0.25% interest deduction on your federal student loans.

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If you go into public service, the Public Service Loan Forgiveness Program forgives the balance on your loans.

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