Ask Terry Questions College loans

College loans

By Terry Savage on November 01, 2023 | College Savings / Student Loans

Terry my daughter has about $27K in outstanding federal loans. She has never made a payment but will be starting this month. I am able to give her about $20K towards her loans, but she doesn’t know if she should apply it to her balance in one lump sum or spread it out. Any thoughts on what the best approach would be?

Terry Says

I would suggest you immediately contact Rae Kaplan, student loan expert, to see if your daughter is eligible for any forgiveness programs. Go to to set up an appointment.
And only then, ask her advice about how to deal with this potential payment. And, may I say, please don’t get yourself in financial trouble over this. You may need this money along the way, and your way is shorter than hers!



a personal
finance question