If my parents gift me $x, and I want to use that money towards my student loans… How do I make a payment towards paying off my loans while I still am in school?

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Posted by Lauren Choban (MONEY FORUMS: 4, Answers: 0)
Asked on March 3, 2016 10:44 am
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Pay towards whichever loan begins accruing interest first. Some loans begin accruing interest on day 1, others have a 6-month grace period that begins once you graduate or become a part-time student, some have 9-month grace periods. Just make sure you understand the entire picture before putting payments towards one over another.

I promise it’s not as complicated as it seems! :)

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Posted by Will Lipovsky (MONEY FORUMS: 0, Answers: 37)
Answered: March 5, 2016 2:46 pm
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Put money in bank account and then contact your loan servicer to make a payment. If you are unsure of who your loan servicer is, check out the National Student Loan Data System https://www.nslds.ed.gov/nslds/nslds_SA/

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Posted by Melanie Lockert (MONEY FORUMS: 0, Answers: 66)
Answered: March 4, 2016 6:00 pm
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