Repaying your student loans may be easier than you think. With a little organization and planning, you can set yourself up to successfully repay your loans. Here are some tips to consider.
1. Know how much you owe.
Gather all your student loan documents (federal and private) and make sure you know the terms of each loan, including payment amounts, payment due dates, whom you pay, and when you need to start repaying (typically six months after you leave school).
Look at the payment due dates and see where they fall in the month. Are they spread out or close together? If the latter, you might try spreading the payment dates out to make monthly cash flow easier. Or, conversely, you might prefer to have all your payments due on the same day to help you avoid forgetting one. Speak with your lender to see if either of these options is possible. Then be sure to factor the payments into your monthly budget.