5 Dos And Don'ts For Managing Student Loan Debt

February 27, 2020 Student Loans

MoneyTips

You finally made it through college and graduated with a degree, a new set of friends, great memories, and most likely a significant amount of student loan debt. How can you manage paying such a substantial debt on a starting salary (assuming you were fortunate enough to find a job at all)? It is not easy, but by following some simple rules, you can increase your chances of successful student loan repayment.

Consider the following dos and don’ts of managing your student loan:

1. Don’t Splurge on Spending – It’s tempting to take that first paycheck and splurge on some of the things you’ve always wanted and can now afford. Resist that urge and make it a priority to pay down debt. Devote at least the minimum payment amount to your student loan payments — and, if you can afford it, consider paying ahead to knock down th…

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