5 Free Tools to Help you Repay Student Loans


Student Loans Cause Stress

If you are looking for options to repay student loans, there are a ton of great online resources to help guide you through the process. Rather than reinventing the wheel and trying to come up with some new tools to help you repay student loans, we thought it may be easier to just send you straight to the source. Here are 5 free tools to help you manage your student debt.

National Student Loan Data System

In today’s world, sometimes it difficult to track down who actually owns and services your student loan debt. Fortunately, the government has put together a website where you can see all of your student loan information in one place called the National Student Loan Data System. On the site, you’ll find a listing of all your student loan information including the name of your student debt servicers, interest rate information and a clear picture of all your student loans in one place.

YoBucko’s Student Loan Worksheet

Once you see all of your information in the National Student Loan Data System, you may want to write down the information or print it out so you have it all in one place. To make it a little easier for you, we’ve put together a student loan worksheet that will allow you to list all of your loans, update your information and save it to your computer so you can access it anytime.

Student Debt Repayment Assistant

Now that you have all of your student loan information, you may need a little guidance on your options for repaying student loans. Recently, the Consumer Financial Protection Bureau released a great tool to help people with both federal and private student loans called the Student Debt Repayment Assistant. The Student Debt Repayment Assistant allows you to answer a few questions and it will tell you what you need to do next. It’s a really easy-to-use resource that doesn’t give you all the answers, but definitely helps point you in the right direction.

Income-Based Repayment Calculator

If you have federal student loans and are worried you may not earn enough money to pay them back, there is a new student loan repayment option called the Income-Based Repayment Plan that caps the amount you’ll have to pay on your student loans based on your income-levels. While it isn’t the answer for everyone, it is worthwhile to see if you qualify for the Income-Based Repayment Plan. To help you determine whether or not you are eligible, the government has created an online wizard called the Income-Based Repayment Calculator that allows you to answer a few questions and helps you determine whether or not you qualify.

Free Student Loan Calculators

The Department of Education has created a lot of free online free online calculators to help students and student loan borrowers repay their student loan debt. Check out these free calculators to calculate monthly payments and to determine which student loan repayment options may be best for your unique circumstances. I’d recommend using these tools before you graduate and have to start repaying your student loan debt. Paying back your student loans can be much less stressful if you are prepared and have a repayment plan ready when the bills start coming.


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