| If you have student loan debt then you are not | | | | you will get turned down for a mortgage, car loan, |
| alone. The cost of getting a secondary education | | | | new credit cards and other things that you will need |
| keeps getting higher and so most who have sought | | | | to buy on credit. Most employers also do a credit |
| to get their degrees wind up in some form of debt. | | | | check on their prospective employers as having a |
| People who cannot meet this financial obligation | | | | good credit rating means that you are taking |
| sometimes consider bankruptcy or find ways that | | | | responsibilities for your finances which in turn may |
| their college loan debt be forgiven. Whatever your | | | | mean that you are a responsible person all-around. So |
| situation is, you shouldn't ignore your debts you | | | | having a bad credit rating might affect your job |
| incurred during your student days. | | | | prospects too. This is why it's really important that |
| Most fresh graduates forget about their student loan | | | | you should never fall behind in repaying your student |
| debts. Indeed, life after college can be very exciting. | | | | loan. |
| Finally, no more exams to worry about, no more | | | | There are some people who think that if you ignore |
| curfew and independence from the parents at last! | | | | your college debts, then they will magically disappear. |
| Most college grads are eager to get out into the | | | | Not being to afford repayment will only make |
| world. They find themselves financially independent | | | | matters worse as penalties and late charges will pile |
| with a full time job and a full time paycheck. Most of | | | | up and make your debt burden even larger. No |
| the time they think about enjoying themselves, | | | | amount of wishing for the repayments to disappear |
| decorating the new apartment and of course | | | | will make it go away! Failure to pay off your student |
| partying. With all these excitement, who has time to | | | | loan debt will mean that it gets to be turned over to |
| worry about saving up to pay off college debts? | | | | collection agencies. Which means that your wages |
| What they fail to realize is that all this independence | | | | may be eaten away to repay them and there can |
| come with a price. With independence comes | | | | even be liens on your property, tax returns and |
| responsibilities... | | | | other assets. |
| - your apartment has to be paid for | | | | If you hare having problems repaying your student |
| - the paycheck will be needed to put food on the | | | | loan debt you can talk to a credit counselor to help |
| table, | | | | you manage and repay those loans. You can also try |
| - money is needed to put gas in the car to get to | | | | speaking to your lender to see if you can have the |
| work | | | | monthly amount lowered along with the interest rate. |
| - you need to pay for lunch when you're away from | | | | This might mean paying even longer but it will help |
| home and lots of other day to day expenses. | | | | preserve your credit rating. You can also ask your |
| Because it doesn't seem so closely related to day to | | | | lender to consolidate your loans into one loan or lump |
| day living expenses the student loan is often sidelined. | | | | it up with your mortgage or credit card payment. |
| But you need to be careful; ignoring the payments | | | | Remember that whatever the amount is on your |
| for the student debts you incurred will affect your | | | | loan it needs to be repaid in order to have a good |
| credit rating. Having poor credit rating can mean that | | | | credit standing. |