7. Grace Period
Most federal student loans offer a six-month grace period after graduation before you need to start making payments.
Post-Graduation Grace Period
Use this time wisely to find a job and start budgeting for loan repayments. Knowing you have this cushion can alleviate some post-graduation stress. During this period, take the opportunity to explore job markets, attend career fairs, and network with professionals in your field. Establishing a solid financial plan now can prevent future headaches.
Plan Ahead
Don’t wait until the last minute. Use your grace period to get your financial ducks in a row, ensuring a smoother transition to repayment. Create a budget including your expected income and expenses, and set aside money for your upcoming loan payments. By planning, you can set yourself up for financial stability and success as you embark on your professional journey.