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Loans and Groans:

Basics of Student Loan Debt

Struggling with student loan debt? You’re not alone. We’ll go over how to become more familiar with the structure of your student loans and how to manage them. We’ll start with loan basics, cover the difference between federal and private loans, and dive into payoff strategies specifically for your student loans.

Before beginning this course, it’s helpful to have your FSA ID at the ready and to log in to your individual loan servicers or get any paper statements you have (if you're a pen and pencil kind of learner). Also, organize what information you can into one place (Don’t panic; we’ll help you do this! Feel free to open our Google Sheet template to get started).

What you'll learn

  • Get to know your student loans. Consolidate the important information in one place (principal, interest, current balance, interest rate, etc.).
  • Learn about federal and private student loans. Understand your repayment options and determine if you may be eligible for any loan forgiveness.
  • Become comfortable with your student loan management strategy. Find out if refinancing or consolidating is a good idea for you.

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Any third party resources or websites referenced are not under our control. We cannot guarantee and are not responsible for the accuracy of the resources, websites, or any products or services available through such resources or websites. While we hope the information in these materials are useful, it’s only intended to provide general education. It’s not legal, tax, or investment advice, and may not apply or be useful to your specific financial situation. If you need recommendations geared to your personal financial situation, schedule time with a financial planner.