Graduation may be just around the bend, but many college graduates feel that their student loan repayments are a distant concern, thanks to the six-month deferment period typically granted. However, these six months can fly by quickly, leading to the commencement of loan repayments.
It’s worth noting that over one-fifth of individuals who skip a student loan payment do so on their very first due date, as per Mark Kantrowitz, the Senior Vice President and Publisher of Edvisors.com, a site providing guidance on college planning and fee management. This isn’t due to a lack of willingness to pay back their loan, but rather because the repayment date escapes their notice. Events such as relocation, starting a new job, which may necessitate fresh wardrobes or apartment furnishings, and other obligations can shift student loan repayments to the back burner.
To learn more about student loan errors that everyone should avoid, visit US News and World Report.
Photo credit: Shawn
