Manage Student Loans Like a Pro

by Kayc

Posted on 03/14/2019


Knowing the negative outcomes of not taking care of your student loans is the best way to avoid any problems. Make sure you follow these guidelines to ensure your student loan debt only helps – not hurts.

Only borrow what you need.

It might be tempting to borrow extra student loan money to pay for recreational activities like eating out or knocking something off of your bucket list. Too much debt can make it harder to keep up with payments, it's important to only borrow what you absolutely need to cover your education expenses. Remember, living beyond your means, means you’re spending more than you can afford. If you aren’t working just yet or receiving a salary to cover your expenses, it’s best to stay within budget.

Make your payments on time, every time.

Mark your calendar or set a reminder in your phone two weeks before the due date for your loan payments. If your servicer has an online account you will be able to sign up for automatic payments. Make sure whichever account you are using for payment, has sufficient funds to cover the expense.

Reach out if you need help.

If you struggle with making your payments on time, reach out to a reputable company like American Student Loan Advocates. One of our Advocates can help you decide whether income-driven repayment, deferment, forbearance or some other alternative repayment option is right for you. Don't let your situation get to the point of late payments or default, because it's much tougher to get back on track after that point.


The idea of struggling with student loans & potentially facing default might seem scary, but you can take steps to avoid that situation & keep your loans in good standing. One way is to ensure you graduate, giving yourself the best odds at finding a job that offers the income you need to pay back the debt.

Consider alternatives.

If student loan payments are too much for your budget & options with your servicer aren't helpful enough, student loan refinancing or forgiveness may offer relief so you can stay current on payments. If you're eligible for student loan forgiveness, you can eliminate your student loan debt under some programs. Student loan refinancing can lower your monthly payments so they're more affordable.