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| Student Loan Debt Controlling |  1) Be proactive; figure out what you owe and who you owe
• Figure out what your total debt is, what kind of loans you have, where they are held, and who you pay.
• Get a list of your student loans and the details of each loan. Keep records and essential paperwork in a safe place.
2) Make your payments on time
• Paying on time will help establish good credit.
• Paying on time will lower the total interest that accumulates on your loan.
• Delinquencies and defaults on student loans will decrease your credit rating, and defaulted loans are turned over to the federal government for collection.
3) Make your payments affordable
• Shop for the best advantages. Many lenders propose borrower benefit programs that can decrease your interest rate or lower your loan principle. Select the best program for your situation.
 • Select a repayment plan that works for you.
Standard – Monthly payments are fixed with a payment term up to 30 years. This plan offers the lowest overall interest cost compared to other repayment plans.
Graduated – Monthly payments are lower for the first 2-3 years and then little by little increase over the repayment term.
Income Sensitive – The monthly payment amount is adjusted annually based on your income.
But be careful of any monthly payments that are lower than the actual interest that accumulates on your loan every month. This will enlarge your debt to such a level that you may never be able to pay off the principle.
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