Guest Blog Post by Debra Johnson.

Student loans are to be taken seriously. They are helpful and great because you need help in school, but what many college students forget is what comes after graduation.

You are probably saying “well I will get a good paying job, I’ll be fine’.

Incorrect, you won’t always get that dream job straight out of college and living on your own is expensive. Here are tips to read over before you take out that student loan:

Research your options

Loans are not the best thing to have to your name. They are difficult to pay off and it can really damper your plans post college.

Do your homework and decide what option is best for you. Try getting financial aid in the form of a grant or scholarship; these are given that do not require pay back.

Ask for help

Ask your parents or a close relative for help first then go to your high school counselor or college financial aid department and ask for help. They will help you by showing your options and what they mean.

They can explain what interest is and where to take out. They will suggest borrowing from the government over a private company.

Private loan companies tend to have high interest rates and that will affect your bank account in the long run.

Take as little as possible

When it comes to taking out student loans some private loan companies will suggest you take out a lot when you don’t need too.

Take enough out to pay for the cost of classes, books and a little extra for any school related costs.

You can always get a part time job or look into a work-study program to help you pay the rest of the costs.

Write it down

Always keep track of your loans. You want to know the date you took it out, how much, who your lender was, who you worked with and any other details that you may want to remember when college is over.

Most lenders offer you online accounts to keep track, use it and use it often. Sign in regularly and keep tabs on it.


You typically have 6 months post-graduation to start making payments on your loans.

You should expect mail, emails and phone calls around this time. If you do not, you make the call.

Don’t wait around until you hear something because that could affect your loan status.

Opt to make smaller payments starting out and work your way up to larger payments each month to help you get used to the fact you are paying them off.

Try your best to get grants and scholarships and if you can’t, then work with professionals to help you decide on which loan is best for you. Take out only what you need and keep track.

It may seem okay and easy now but when you are on your own and ready to start your life, you will be making these monthly payments for the next 10-25 years. Choose wisely.

About the Author:

This guest post is contributed by Debra Johnson, blogger and editor of


  1. abhi on April 30, 2013 at 4:57 AM

    there are too many options these is important to research and find out about different available options before taking a student loan

  2. Alyse on October 25, 2012 at 3:56 AM

    Great Article! I like the researching your options point. I also think that one option that should be researched is “Can I plan to save money elsewhere in order to help pay for loans?” In that I mean have a plan full of discounts. Whether that means you are the campus coupon cutter for the next years or you know what and where to shop that offers student discounts to help you save. I think as long as you think of every single aspect possible (even the little ones) then you will be more prepared in the long run.

  3. Ali Tabish on October 23, 2012 at 1:39 PM

    That’s really helpful to understand the reality of student loan or any other loan. Scholarship is the best way.

  4. Kate Sherry on October 19, 2012 at 7:46 PM

    Great blog! Many students are drowning in debt after college because of student loans. This article gives tips on how to avoid this debt and focus on your future after college.

  5. thinkbig on October 18, 2012 at 10:52 PM

    Lets do some simple math on why loans are way better than using money in hand.
    Loans – interest rate 12% p.a. and you need to start paying it off only after 2.5 yrs after taking it. ( 6 months after graduation). Now if your study expenses are say 30 laks and you have 10 laks in hand. Invest that 10 laks in either real estate or gold or equity (equity is risky) which grows at 20-30% per annum.( This amount gets more than double in 5 years easily) which can be used to pay off the loans easily even if you cannot get a job and need not worry about loans for 10-25 years.All you need is to select the right investment to double/triple your cash in hand in 5 years.

  6. Sripad on October 17, 2012 at 7:40 PM

    Thank you so much for these tips. Since, I’m planning to take loan these will help. I was also thinking along the same lines.

  7. rakesh singh on October 17, 2012 at 5:08 PM

    i really agree with the point of TAKE AS LITTLE AS POSSIBLE

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