Home Save Homepage

Repaying Student Loans

Once you have graduated, it is time to start repaying your student loans. You generally have a grace period in which to find employment before you will have to start making payments. As with any other financial agreement it is important to understand the terms of repayment and stick to them faithfully.

Generally student loans will become due six to nine months after graduation. You will more than likely be notified by the creditor as to your repayment obligations but if not call and find out for yourself so there are no mix ups. Going into default on student loans is the same as failing to pay any other creditor. They have all the same legal tools to force you to pay and in the case of federally backed loans, even more. They can notify the national credit bureaus and harm your credit rating, garnish your wages and even take any tax refunds you are entitled too. Most creditors want to work with you and will go out of their way to help you help yourself. There are options for teachers working in low income areas that may mean cancellation or deferment of your student loans. If you have multiple loans with different lenders, it is possible that you may benefit from loan consolidation. Do some research and you may find lenders offering a better interest rate if you consolidate. The most important thing to remember is if you are having trouble with repayment, contact the creditors and talk to them.

Employment, Loans, and Finance

Student loans, credit and budget

Scholarships and education finance

» How to Finance an Education | Student Loans & Scholarships | How to Search for Scholarships | Students and Financial Aid

Internship

Employment

» Student Employment | Working Abroad | The Benefits of Working Abroad |Popular Jobs for Students | Student Work Exchange

Other

Insurance for students