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But dont sweat it!
Heres some expert advice to help you navigate these choppyfinancial waters.
Here are five things the pros say you should do for yourstudent loans during this election year.
It might take some time to readjust your budget after a break!
Lacad suggested cutting out crucial expenses and ensuring your student loan repayment is factored into your regular spending routine.
Remember, Rome wasnt built in a day, and your repayment strategy doesnt have to be, either.
Just see to it youre making your minimum payments on time.
But, he said, The popular Income-Based Repayment (IBR) plan is currently affected by legal battles.
While you might still submit a paper system, processing times are slow.
So, what exactly should a borrower do?
Contact your loan servicer to discuss options likedeferment or forbearance if youre struggling to make payments, Galici said.
In the meantime, focus on making your payments.
This could disqualify you from future forgiveness programs and other relief measures.
And he was telling the truth a single late payment could drop your credit score by 20-80 points.
Moral of the story?
Pay on time, every time.
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