Worried about keeping your debt under control?  Don’t be.  If you are aware of your options and responsibilities, you can be successful by understanding the following information.  

Maybe your a recent graduate, about to graduate, or just taking a break from school.  All of these things are normal things: you just have to be prepared.  Make sure that you know your loans.  Keep track of what loans you have and what your repayment options are.  

By logging onto www.nslds.ed.gov, you can check for all sorts of information about your loans.  Knowing how long your grace period is important in regards to making your first payment.  Many allow 6 months; however, not all loans have the same rules! Be aware! 

One thing Real LIFE encourages is being in contact with your loan servicer.  If you are consistently on good terms with them, you will be more likely to make wise decisions when it comes to the loans.  Your servicer can help you pick the right repayment plan. A standard 10-year plan is not the only option: Income based Payments may be right for you depending on your career situation.  Finding a job is often difficult, and this kind of plan can really save you in the long run.   

Do not ignore your loans! If you go into default, you may end up owing more, and having a plethora of unfortunate consequences follow, such as revoking of your professional license.  Document your payments as you go to eliminate error.  Try to pay off the most expensive loans first.  These will have the greatest interest, and taking care of them first will prevent them from drastically increasing.  

Look at the benefits for consolidating your loans.  For some, this makes for easier payments, but for others it might eliminate benefits or payment plans.  

Finally, if you are making consistent qualifying payments, many programs will forgive any remaining debt after ten years.  Be conscious of these options, because they will save you money in the end! 

Don’t Panic: paying back loans doesn’t have to be scary! Just stay connected and responsible and the process will be much more relaxed.  

http://ticas.org/content/posd/top-10-student-loan-tips-recent-graduates