Understanding Your
Student Loans
The average college student in the U.S. graduates with
about $30,000 in student-loan debt. This constitutes a
formidable, often prolonged financial burden during "normal"
times. Rest assured that the impact will be compounded
during a recession.
It is absolutely imperative that you fully comprehend all
aspects of your student loan management, repayment
options, impact on your personal budget, and of course,
relevant and current legislation.
Click on the following resources and to get started:
• Studentloansherpa.com - a good place to start.
• Understand Federal Student Aid
• Understand Income-Driven Repayment (IDR) Plans
• Which IDR works for you?
• Understand the Role of a Student-Loan Servicers.
• Understand Loan Forgiveness Programs and
Opportunities
Personal Budgeting
Resources
Graduating into a (possible) recession could result in
reduced income over a prolonged time-period. Your
ability to save, be frugal, and budget your money wisely
is essential.
Click on the following resources and to get started:
• Understand Budgeting Basics - The Balance
• Create a Comprehensive Personal Budget - Policy
Genius
• Financial Tips for Young Professionals -
MoneyGoody
• Additional Financial Tips for Young Professionals -
Investopedia
• Understand Compound Interest - Investopedia
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