Sunday, July 21, 2024
Home » Economy » Minimize Education Loan Costs: Pay Interest During Moratorium

Minimize Education Loan Costs: Pay Interest During Moratorium

June 4, 2024

Hey, like this? Why not share it with a buddy?

Students should limit their education loans to essential expenses. Banks provide a moratorium on education loan repayments, typically lasting up to a year post-graduation or six months after employment, whichever comes first.

During the moratorium, interest accrues, so servicing the interest can reduce overall costs. Paying extra towards the principal also lowers the total interest.

Before taking a loan, students should check for university-bank partnerships, which may offer lower rates and faster processing.

Borrowing only what’s necessary and avoiding long repayment periods can keep interest payments in check.


Related Posts

Reader / Viewer discretion and disclaimer :
The information provided on SME e-News ( website is intended for general informational purposes only. While we strive to provide accurate and up-to-date information, we cannot guarantee the accuracy, completeness, or reliability of the content. The views and opinions expressed in the articles and posts on this website are those of the authors and do not necessarily reflect the official policy or position of SME-e-News website. Readers are advised to independently verify any information found on this website before making decisions based on it. We do not endorse, represent, or warrant the accuracy or reliability of any third-party content linked on this site. Furthermore, SME e-News ( website shall not be held liable for any errors, omissions, or delays in the information provided, nor for any losses, injuries, or damages arising from its display or use. Please note that the content on SME e-News ( website may be subject to change without notice.