2 answers
Laila
Student
Sheffield Lake, Ohio
1
Question
Asked
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How will I manage student loans once I am out of school? #Spring25
I am a primary education major and am graduating in 2026. At that time I will have several student loans to pay back.
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2 answers
Morgane Hingray
Enablement Manager
4
Answers
Dublin, County Dublin
Updated
Morgane’s Answer
Hi Laila,
There are so many resources out there to help you! It's good that you are starting to think about it now, because you have to make a plan now.2026 is tomorrow.
1. Understand your situation is the 1st step: learn about the specificities of your debt. make an appointment with your bank to discuss.
If you know nothing about finance, check-out free courses, or support groups...
2. What can you do now? between now and the beginning of the debt repayment, what can you earn to help you get started? you might want to take on a summer job + any extras
3. Look at your current lifestyle, repaying a loan means making sacrifices. You might need to make adjustments later so why not start now? Understand your lifestyle: List your current expenses, where do you spend most of your money? what can you cut? is there any cheaper options? What's your direct debits? Is it a must have or a nice to have? Anything you don't use you can sell?
I found this article for more tips: https://www.investopedia.com/articles/personal-finance/082115/10-tips-managing-your-student-loan-debt.asp
There are so many resources out there to help you! It's good that you are starting to think about it now, because you have to make a plan now.2026 is tomorrow.
1. Understand your situation is the 1st step: learn about the specificities of your debt. make an appointment with your bank to discuss.
If you know nothing about finance, check-out free courses, or support groups...
2. What can you do now? between now and the beginning of the debt repayment, what can you earn to help you get started? you might want to take on a summer job + any extras
3. Look at your current lifestyle, repaying a loan means making sacrifices. You might need to make adjustments later so why not start now? Understand your lifestyle: List your current expenses, where do you spend most of your money? what can you cut? is there any cheaper options? What's your direct debits? Is it a must have or a nice to have? Anything you don't use you can sell?
I found this article for more tips: https://www.investopedia.com/articles/personal-finance/082115/10-tips-managing-your-student-loan-debt.asp
Aileen Poron
Andrologist Lab Tech
10
Answers
Katy, Texas
Updated
Aileen’s Answer
Hi Laila,
Great question. If you pulled out student loans through FAFSA then all those loans typically will become one payment. Depending on what you select for your loan repayment option (there’s a couple of options) if you’re worried that you will not get a great paying job that is ok because they have an income based payment option that will cap the payment at 10% of your total income. If you use your degree to become a teacher there are also ‘4 loan forgiveness programs for teachers’ that you should look into on FAFSA. These are great options to help you stress less about your loans. For example, the PSLF essentially forgives the remainder of your loans after 120 on-time payments (~10 years). This is just one of them so definitely look into the rest. There’s are stipulations for each program.
Best of luck!
Great question. If you pulled out student loans through FAFSA then all those loans typically will become one payment. Depending on what you select for your loan repayment option (there’s a couple of options) if you’re worried that you will not get a great paying job that is ok because they have an income based payment option that will cap the payment at 10% of your total income. If you use your degree to become a teacher there are also ‘4 loan forgiveness programs for teachers’ that you should look into on FAFSA. These are great options to help you stress less about your loans. For example, the PSLF essentially forgives the remainder of your loans after 120 on-time payments (~10 years). This is just one of them so definitely look into the rest. There’s are stipulations for each program.
Best of luck!