Graduation season is practically here, and it’s time to assess your student loan debt. We’ve created a downloadable checklist of what moves you need to make with your student loans.
Now is the time for students who borrowed their way through school need to start taking a hard look at their loans. Mapping out your repayment strategy sooner rather than later puts you in the best position possible to tackle the debt and wipe it out as quickly as possible so you can move on to your other financial goals.
Failing to create a plan for getting your loans paid off is one of the biggest mistakes you can make and it end up costing you a substantial amount of money in interest. If you don’t know what you owe or who you’re supposed to be paying it to, you run the risk of ending up in default, which is guaranteed to damage your credit. That can impact whether you’re able to buy a car, obtain a mortgage or even get approved for a credit card.
With so many other things to worry about as the last few weeks of your college career tick by, sitting down to make out a list of to-do’s for tackling your student loans is probably the last thing on your mind. Fortunately, MyBankTracker has done the hard work for you and created a step-by-step checklist for new grads who need a nudge in the right direction when it comes to paying back student loans.
Take a look at our downloadable infographic to see exactly what you need to do to address your loans before hanging up your cap and gown.