DO YOU KEEP TRACK OF YOUR STUDENT DEBT?

As the school year comes to a close, many college seniors are attending financial aid exit interviews. But, we’d like to remind all college students – whether you are graduating or not – to take stock of your student debt at the end of every school year. We’ve heard horror stories from graduates who were shocked to see how much they actually borrowed over the course of college. Keep track of it now so you will be prepared when it comes time to repay your loans.

If you still need to settle your bill for this semester, or are already looking ahead to next semester, please visit our website; http://www.sfscollegeplanningspecialists.com and click on the Need a Student Loan? button.

Here are some tips to help you manage your student loan debt:

• Gather you loan details at the end of each year – Pull together the details for all the loans you took out, including loan servicer total amount, APR and first payment date.
• Keep track of your debt and update it yearly – Once you’ve gathered all of your loan details, pull all this information into a spreadsheet and track it on an annual basis.
• Update your loan servicer – Be sure to notify your loan servicer when you graduate, withdraw from school, transfer, or change your name, address, email or phone number.

As you wrap up your loan details for this past year, remember to think ahead to next semester.  It’s never too early to get a head start on planning for your next tuition bill.

Have a great summer.