You are not alone. If you graduated in May 2009, your grace period is just about up.

Here is the audio for an NPR news segment on the challenges of being a college graduate in today's economy.

20091123_atc_16

Now more than ever, students are defaulting on their loans.Here are a few tips to help:

  • Income Based Repayment
  • If you can prove your hardship, the federal government can defer your loans for up to three years.
  • Do not borrow more than you can expect to earn.
  • Don't expect to start your dream job the day after you graduate. A job will help you repay your loans and avoid defaulting. Your dream job will come.
  • If you are able to and mom and dad don't mind, consider moving home after school. Get your finances in check and then go from there.

Categories: Financial Aid | Student Loans
Tags: income based repayment loan default student loans

Connect with Go Financial Aid in your favorite flavor!