How do student loans work? Once I start paying them back, do I have to pay back consistently?
Friday, May 1st, 2009
Tesoro asked:
Like if I have $1000 now gathered from working as a student for 2 years, can I use that to pay some of the loan back? Or, is it that once I start paying back loans, I can’t stop, and I must consistently pay them back every month?
Like if I have $1000 now gathered from working as a student for 2 years, can I use that to pay some of the loan back? Or, is it that once I start paying back loans, I can’t stop, and I must consistently pay them back every month?
Also, do student loans have minimum sums we are allowed to pay every month? Like can it be that i’m only allowed to pay if i’m paying in a minimum sum of $800 or $1000?
P.S. this is not for me, so its not like I can look over a contract or anything like that.
Nellie