The grace periods for private student loans vary, so consult your paperwork or contact your lender to find out how much interest you’ll be charged. The government has set a limit of 6.8 percent for new private student loans and 9.6 percent for existing loans.

As for federal loans, student loan intere rates are fixed for each loan program, meaning it’s possible to pay lower interest rates on federal loans than you would on private ones. However, borrowers in default are charged interest rates based on their last payment and must pay them at the rates they were charged when they defaulted, even if they are in the program.

Some states offer “pay-as-you-go” plans to borrowers, allowing borrowers to pay for their student loans at whatever rate they wish, in monthly installments, for as long as they choose. Some of the most expensive states are those that offer this, such as California, Florida, Michigan, and Texas. The monthly payment on a California federal loan with this option would be $2,857; a Florida federal loan would be $2,942; and a Michigan federal loan would be $3,079. The lowest monthly payment for a California federal loan would be $1,944, a Florida federal loan would be $1,956, and a Michigan federal loan would be $2,051.

You Can Apply for a Loan from an Eligible Provider of Education Loans

Although federal student loan repayment programs for public service employees are intended to benefit the education of public service employees, you can find low interest loans from eligible lenders and other lenders that may qualify for federal student loans. A number of lenders have begun to offer education loans for public service. This is a good place to start if you are trying to determine how much you could potentially pay in interest payments on federal student loans after receiving a public service loan. To get more information, you should check with your lender about their education loan programs. If you can not get any information about the programs from your lender, you should contact one of the programs directly.

How do I get my federal student loans discharged?

There are many different programs that can be used to discharge your federal student loans. These programs have different eligibility requirements, such as a lack of income, or a bankruptcy or for-profit status.

For example, most of the forgiveness programs require you to have made a payment to an education loan servicer for the past 10 years, or have a reasonable explanation as to why you missed the 10-year cutoff. For example, a borrower who has filed for bankruptcy or who is currently enrolled in public or vocational education programs may not qualify for most forgiveness programs.