If you can, try to pay off whatever debt you can. If you could wipe out a credit card, that means less debt you will paying every month. This will give you a better debt-to-income ratio.
If you have federal student loans, you can also enroll in an income-driven repayment plan or extended repayment plan to lower your monthly obligation.
Easier said than done, but you could also try to increase your income. If getting a raise or a better paying job isn’t possible, you can explore part-time jobs or side hustles to increase income.
Applying with a responsible cosigner with great credit could also help you get a better interest rate. But it’s a lot to ask for someone to cosign for you. This means that are completely responsible.
At Savingforcollege.com, our goal is to help you make smart decisions about saving and paying for education. Some of the products featured in this article are from our partners, but this doesn’t influence our evaluations. Our opinions are our own.
Complete Guide to Scholarships for College - Old
Complete Guide to Scholarships for College
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