Escaping From Student Loans

Posted on 18. Feb, 2006 by Jason Guthrie in Saving & Investing

Your college diploma is a little piece of paper with a big impact on your financial future. Unfortunately, so is your student loan promissory note.

That’s the intro to a great story at Yahoo! Finance on repaying student loans. In fact, the story is one of many in a Yahoo! Finance series called “Young and Broke” – a collection of stories for college students or recent college graduates. Let me give you the Cliffs Notes version of the story, which lists a number of things you should do upon graduation:

1. Figure out how much you owe
2. Pick a repayment plan (I think the Graduated Payment Plan is the best)
3. Look for other ways to ease the burden – negotiating fees and paying straight from your bank account can knock off a few interest points