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Unformatted text preview: Plus: 7.9% or 8.5% Loan Servicer: sends bills, computes interest Lender: originates the loan PLUS loans= 60 days after < full time Stafford= 6 months after Perkins= 9 months after What are payment options?-Standard-Extended up to 30 yrs-Graduated repayment-Income sensitive or income contingent Discounts?-1/4 of 1% for automatic payments!-2% reduction of interest rate after 48 months of on-time payments! Consolidate? Combine several loans into one payment Comparison Shop! o Discounts o Lose benefits it consolidate? Tax savings: Student loan interest deduction Hope tax credit Lifelong learning tax credit...
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- Fall '07