Student Loans and Debt Management: What You Need to Know

Ah, student loans—the financial souvenir from college that sticks around way longer than your old textbooks. If you’re staring at a mountain of debt and wondering where to start, don’t panic. You’ve got options.

Step 1: Know Your Loans

Make a list:

• Federal vs. Private Loans

• Interest Rates and Terms

• Payment Due Dates

Step 2: Understand Repayment Plans

Federal loans offer options like income-driven repayment or loan forgiveness programs. Private loans? Not so much. Look into refinancing if you have high-interest rates.

Step 3: Make Payments a Priority

Even if it’s just the minimum, pay something each month. If you can pay extra, tackle the highest-interest loan first.

A Warm Reminder

Debt can feel overwhelming, but with a plan, it’s manageable. Start where you are, pay what you can, and remember—your worth is not measured by your bank balance.