Read this tip to make your life smarter, better, faster and wiser. LifeTips is the place to go when you need to know about Student Loan Repayment and other Student Loan topics.
That first monthly student loan payment after graduation can be overwhelming. Maybe you were lucky enough to land a high-paying job right out of college. But if not, you should keep the following in mind: if you have enough money set aside to cover your student loan payments for the first six months to a year, you can stay ahead of the game.
This will help you ease into the first few months of student loan repayment. You'll also feel more secure knowing that you can cover a couple payments with savings if necessary. As long as you continue to save, you should have enough to cover the next few months of bills.
Saving money is just as important as making money. Planning ahead and putting money away in a savings account is more helpful than you may realize.
|Jennifer Mathes, Ph.D.|