Navigating the complexities of student loan repayment can feel overwhelming, particularly when grappling with the concept of the “average term.” This guide demystifies the average student loan term, exploring how it’s calculated, the factors influencing its length, and its significant impact on your overall repayment journey. We’ll delve into the differences between federal and private loans, examine various repayment strategies, and provide practical examples to illuminate the financial implications of your choices. From understanding the relationship between loan term and total interest paid to exploring the benefits and drawbacks of shorter versus longer repayment plans, we aim to equip you Read More …
