Pay As You Go
"Pay As You Go" submitted by SchoolGrantsfor Editorial Team and last updated on Friday 22nd July 2011
"Pay as you go" is the concept of paying off a portion of your student loan while you are still in school.
EDFUND and UCLA developed the EDWISE® Online Financial Planning Guide in a collaborative effort to provide a useful loan management tool for students. Student loans help place the world of higher education within everyone's reach. While they open doors to exciting careers, they also pose the challenge of financial management.
There's no need to wait until after graduation to repay your student loans. In fact, you can start making payments as soon as you receive your first check. EDWISE® offers a unique feature that lets you calculate how "paying as you go" can save you thousands of dollars on your total payback. Even as little as $25.00 per month—paid back while you're still in school—can save you lots in the long run.
This financial planning guide is one more way that EDFUND provides real value to students and their parents. It's designed to help you:
- Establish a spending plan
- Borrow only what you need
- Start repaying your loans while you're still in school
EdWise Student Loan Calculator: Edwise online financial planning guide for your college education. EDFUND and UCLA developed the EDWISE® Online Financial Planning Guide in a collaborative effort to provide a useful loan management tool for students. Student loans help place the world of higher education within everyone's reach. While they open doors to exciting careers, they also pose the challenge of financial management.
The EDWISE calculator has several sections that will assist you with student loan debt management:
- College Budget: helps you create a college budget
- Loan Reality Check: allows you to check your loan debt against your real world earnings and it also provides several options for you to save money
- Loan Repayment: provides several repayment options and calculators
- Post-College Budget: helps you create an out of college budget
- Summary Report: allows you to create and print your personalized budget and planning report
EDFUND is a nonprofit corporation that administers the Federal Family Education Loan program for the California Student Aid Commission. As a service of the California Student Aid Commission, EDFUND is in the business of providing a variety of superior student loan services to make college accessible to all who want it—and to make student loan repayment as painless as possible.
EdFund is the guarantee services provider for the California Student Aid Commission (CSAC), a national guarantor within the Federal Family Education Loan Program. EdFund administers FFEL Program activities on CSAC's behalf, including loan origination, default prevention efforts, loan purchase and collection. Your loan information is available under federal law to your lenders, schools and guaranty agencies. It is provided in the accompanying letter as a service to you. To best meet obligation within the Student Loan program to collect on defaulted student loans, EdFund contracts with various collection agencies. You are always welcome to contact our Post-Default Services Unit at 1.800.367.1590 for assistance in understanding the location of your loan. When calling this number, the system will notify you if your account is assigned to a collection agency and how to contact that agency.