Navigating the complexities of student loan repayment can feel overwhelming, especially when faced with the option of making interest-only payments. This seemingly simple choice carries significant long-term financial implications, impacting not only your loan balance but also your overall financial well-being. Understanding the mechanics of interest-only payments, their potential drawbacks, and available alternatives is crucial for making informed decisions and achieving long-term financial stability. This exploration delves into the intricacies of interest-only student loan payments, examining the short-term benefits against the potential for substantial long-term costs. We’ll analyze how these payments affect your loan balance over time, compare them to Read More …
