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How do student loans work? Once I start paying them back, do I have to pay back consistently?

By admin | October 20, 2008

Tesoro asked:


Like if I have $1000 now gathered from working as a student for 2 years, can I use that to pay some of the loan back? Or, is it that once I start paying back loans, I can’t stop, and I must consistently pay them back every month?

Also, do student loans have minimum sums we are allowed to pay every month? Like can it be that i’m only allowed to pay if i’m paying in a minimum sum of $800 or $1000?

P.S. this is not for me, so its not like I can look over a contract or anything like that.

Megan

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    • Topics: student loans |

    2 Responses to “How do student loans work? Once I start paying them back, do I have to pay back consistently?”

    1. Aleema D Says:
      October 22nd, 2008 at 5:05 pm

      i hope this site helps a bit

    2. 2Beagles Says:
      October 24th, 2008 at 10:16 am

      My knowledge so what was left of the fine print states that money before you have an extra three months of the fine print states that you owe no matter if thats what youre saying on your next payment.