If you graduated this past spring and used student loans as part of your college financing strategy, you likely just received (or will soon receive) your very first student loan bill. For many graduates, this first bill can come as an unwelcome surprise. Sure, you knew you had to pay these loans back someday, but now that that day is here, and you see the size of your expected monthly payment, you may be feeling unprepared to handle repayment. Rest assured: if that monthly payment seems unaffordable based on your current financial circumstances, you do have some options. The government offers a number of repayment plans for your federal education loans, some of which may provide you with some relief:
The Insider: College Admissions Advice from the Experts is where College Coach experts weigh in on the latest college admissions topics. We cover everything from application timelines and strategies to tips on financing your child's education.
Subscribe to Our Blog
ACT admissions applying from abroad choosing a major choosing the right college college admissions advice college admissions consulting college admissions process college applications college lists college loans college planner college visits common app common application common application help deciding on a college early action early decision educational consultant essay prompts essays FAFSA financial aid financial aid award getting in harvard high school resume how to get into an ivy league school international students ivy league mba mba programs new SAT paying for college researching colleges SAT saving for college scholarships scholarship search standardized testing standardized tests summer activities summer planning writing college essays