That’s right - you can’t hide from it anymore.

If you graduated this past spring, the chances are your charm period is over and you have to start paying back your student loans.

This is not the extent of the world for you, just the beginning of a long relationship with your loan servicer. (Technically, the relationship started 4 years ago…but who’s counting)

You have some options. First and foremost, examine your monthly budget, and include your recent student loan deposits. If you can afford to make the payments, don’t defer or put your loans into longanimity just to save money. When you put your loans into forbearance or deferment, regard testament choice continue to collect on your none-subsidized federal loans, which gets capitalized once you go back into repayment. This inherently means that your total payback mass will increase. Not to mention, deferment and forbearance are intended to be used during financial hardships. If you use them up now when you can afford to pay, you won’t have them in the future when you may actually need them.

Still, you can afford the monthly payments, but now you have much less charge double-dealing around. Consider consolidation - you can cut your monthly payment nadvanced in half. And, there is no penalty for extra or early repayment. So, when you claw your way to the top of the corporate ladder, and land that high paying fluff job, you can payback your remaining loan balance without being penalized.

Finally, don’t forget to consolidate your private student loans. They’re probably going into repayment right about now as well. And if you have a lot of private student loans be keen on me, then consolidating those will in addition help that monthly budget stay fit. Just like federal consolidation, private consolidation will combine all of your private student debt and lower your monthly payment, without any penalties for extra or early repayment.

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