Student Loan Debt 101

If you’re a recent college graduate that borrowed student loans, you might be starting to realize what you signed up for. Nearly three-quarters of students graduate with student loan debt. If you’re one of them, it’s important to include your loan debt repayment in your financial planning.

The first step to paying your debt is learning all of the terms and conditions of your student loans. Do you have private or federal loans? Are your loans subsidized or unsubsidized? Do you have a grace period after you leave school? If you do, take advantage of that time and set money aside so you can be prepared when your first payment is due.

While it might seem convenient, try your best to avoid deferring your loans. In most cases, your loans will continue to accrue interest even when they’re on hold. Once you determine how much you’ll be paying towards your student loans each month, calculate that payment into your monthly budget. Creating a budget is one surefire way to get your finances on track! 

Check out this video from Better Money Habits for more tips and information about your student loans.

 


Let America Saves help you save money. It all starts when you make a commitment to yourself to save. Take the first step today and take the America Saves pledge to save money, reduce debt, and build wealth over time. And it doesn't stop there. America Saves will keep you motivated with information, advice, tips, and reminders to help you reach your goal. Think of us as your own personal support system.

TAKE THE PLEDGE


If you're one of the millions of Americans with student loan debt, here's what you need to know! v/ @AmericaSaves https://bit.ly/2HNqRu0


 Tweet this now

 

Take the Pledge

Savers who make a plan are twice as likely to save successfully. 

Take the America Saves Pledge

Tip of the Day

  • Written by Tammy G. Bruzon | October 21, 2014

    Impulse buys are an easy way to blow your holiday budget. Make a plan & stick to it! http://ow.ly/CVJZf

Saver Tips and Stories View all »

Learning to Save

Written by Katie Bryan | October 28, 2013

Kisha Barns’s financial situation was undisciplined, unrestricted, and impulsive before she came into contact with her local America Saves campaign, Charlotte Saves.

Read more...

Don’t Laugh at Saving Spare Change

Written by Guest Blogger | May 7, 2019

Virginia Saves saver, Brittany, decided to start saving again when she became a single mother. She thinks many women, and men, can relate.

Read more...

Put 20 Percent Away

Written by Lindsay Ferguson | July 8, 2019

“I am a single mother, and I make ends meet for me and my daughter, but I wanted to put money away for my daughter for a college fund. So I started saving 20 percent of my paycheck every month to put it away in a savings account with a high Annual Percentage Yield (APY). By the time my daughter is 18, I will have saved nearly $90,000.”

Read more...

Receive Updates

Take the Pledge

Written by Super User | September 16, 2013

Start Saving

Receive Texts

Written by Tammy G. Bruzon | July 15, 2014

Learn More

Partner News & Updates

Written by Katie Bryan | October 18, 2013

Sign Up