Crucial Things to Know About Your Student Loans and Repayment

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Join our #CreditChat on Periscope, YouTube Live, Twitter, and Snapchat every Wednesday at 3 p.m ET. In this chat we discussed crucial things to know about student loans and repayment.

The panel included: Elizabeth Stapleton: Founder of Less Debt More WineAmerican Consumer Credit CounselingNational Foundation for Credit CounselingShannon McNay: Personal Finance Freelance Writer; Rod Griffin: Director of Public Education at Experian; and Christina Roman: Social Media Specialist at Experian.

We also featured financial tips all week on Snapchat.

Questions We Discussed:

  • Q1: What’s the first thing a student should do when it comes time to paying back their student loans?
  • Q2: Where can students go to find all of the student loans in their name?
  • Q3: What is the difference between federal student loans and private student loans?
  • Q4: What should students know about student loan interest rates?
  • Q5: When do student loan payments begin?
  • Q6: How much should you pay toward your loans each month? Should you pay more than the minimum?
  • Q7: What should someone do if they feel overwhelmed by their monthly student loan payments?
  • Q8: What are the pros/cons of consolidating or refinancing your student loans?
  • Q9: What are the consequences of missed payments?
  • Q10: What are common student loan debt scams that people should be aware of?
  • Q11: Any final tips for someone dealing with student loan debt?

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If you’ve never heard about #CreditChat, here is a brief overview:

Relevant chats on YouTube: