All posts filed under: business & finance

5 Things You Should Know About Student Loan Debt

When I think back to when I was in Grade 12 gearing up for university, it seems so long ago. Who knew the decisions I made then regarding my finances (and some that where inevitable due to my circumstances) would continue to impact and shape me as the person I am today. To save future post-secondary students or current ones from getting into more student debt than they need to, I have compiled a short list of what I learned from incurring so much student debt. If you have to take out ‘more’ student loan to complete your undergraduate degree outside of your hometown, it’s probably a bad idea. I understand that some students would like to go to a school outside of their city because it’s well known for the program they want to take. Others may just want to leave the nest egg. However, in most cases the added debt needed to finance this decision exceeds the economic benefit they actually get once their out of school. This was not an option for…

Financial Tips for Recent Grads

When I graduated from college there were a few things I quickly learned about finances: 1. Student Loans The first thing you need to do is reach out to the company that financed your loan. They will probably send something in the mail when it gets close to the time for you to start paying back loans, but it’s safer to contact them during the grace period. They will probably let you know when your grace period ends, when to expect your first bill and how much it will probably be. It will also give you a chance to explore your options to reduce your bill. One thing I did was consolidate my loans. I also filed for an IBR to lower my monthly amount. Check out programs like SLS Managers to see if you qualify for loan forgiveness. For more tips on how to lower student loan debt, check out this Washington Post article. 2. Debt Get out of it! Credit…it may not seem important now but it probably will later. If you have …