Student Loans

I have two daughters in college and they are graduating soon. That’s when our payments start on the parent/student loans.

Do you know when your college student graduates and when your first payment will be due?

Now is the time to do the research for those dates and start budgeting for it. Maybe it’s this year, like me, or its 4 years from now, but be sure it’s gonna happen, and it’ll be here before you know it.

If you are the student here are some DO’s and DONT’s once you graduate:

DO:

1. Get a job right away, or 2 jobs. Work that side hustle.
2. Continue living a similar lifestyle and budget you have been accustomed to for the past several years as a student. 
3. Minimize your transportation expenses.
4. Try to take advantage of your college benefits for as long as you can, i.e. college I.D. bus pass, gym membership, or other local discounts.
5. Pay as much on your student loan as possible, when possible. No need to wait for the due date, throw everything you can at that debt.
6. Find a roommate to share living expenses.

DON’T:

1. Take a break between graduation and getting a job.
2. Buy/rent an expensive place to live.
3. Incur more loans. if this is a must then shop around and get the best rates or deals.
4. This is obvious, but don’t do anything to jeopardize your new job.
5. Go out or order food in every night.
6. Continue your college party lifestyle.