With graduations just around the corner, student loan payments still seem miles away thanks to a 6 month deferment period many college grads have. But 6 months can pass in the blink of an eye and then your payments will begin.
Of people who miss a student loan payment, more than a fifth miss the very first payment, according to Mark Kantrowitz, senior vice president and publisher of Edvisors.com, a website for planning and paying for college. “[It’s] not because they don’t want to pay the loan,” he says. “It’s because they lose track of when they need to make the payment. You move to another state, you have other obligations for that new job – new business attire, furnishing the apartment – and student loans are the furthest thing from your mind.”
Find out more about student loan mistakes to watch out for at US News and World Report.
Photo courtesy of: Shawn