It’s no secret that student loan debts can be overwhelming. Those who had to take out student loans feel that pressure immediately upon graduation, which is when it’s time to start paying the piper. This is especially difficult if you are graduating without a job in place. You will likely be taking on more debt while trying to secure employment, which just makes for a vicious cycle. It starts to feel impossible to get ahead. There are some things that you can do in order to help yourself not get too far behind.
Health Insurance: A Necessity for the New College Grad
In an ideal world, you would graduate from college with a job lined up and that job would have great benefits like health insurance. Unfortunately, we don’t live in an ideal world, so many graduate college without that. But, health insurance is still so important! Currently, parents are allowed to keep them children on their health insurance into their 20s (usually 25 or 26). If possible, stay on your parent’s health insurance. This way you still have access to medical care and won’t rack up ridiculous medical bills while you are getting you finances and employment in place.
Retirement: A College Graduate Should Always Plan Ahead
Start a retirement fund as soon as you can. You can ask parents, grandparents and other relatives to add to it for your birthday or other holidays. It may not sound very fun, but you will be very thankful when you are able to retire and live comfortably down the line.
Don’t Delay! Start Making Student Loan Payments
For most student loans, you will have to start making payments 6 months after you graduate. It’s VERY important that you start making those payments and keep up with them. If you don’t, you will start getting penalized. Those penalties will add up quickly and will put you in a much worse situation when you do start making your payments.
If you are looking for debt relief in Aurora, Centennial, and Parker, contact bankruptcy attorney Barry Arrington at 303-205-7870 to schedule your free consultation and begin your journey towards financial freedom.