4 Big Student Loan Mistakes Experts Say to Avoid

June 28, 2024 – In an article for CBS News about how to avoid the big student loan mistakes, Stacey MacPhetres, senior director of education finance at EdAssist by Bright Horizons, provides tips for borrowers. 

"When borrowers can pay extra on their loans, they should do so," says Stacey MacPhetres, senior director of education finance at Bright Horizons. 

Just make sure the lender applies it to your principal balance rather than holding it until your next payment date, she says. 

"Paying toward principal can reduce the overall time and repayment and total interest paid on the life of the loan," says MacPhetres.

Read the full article here.