Most of us were raised to believe the world was our oyster and we could achieve anything we put our minds to. So we worked hard and got accepted into school. We didn’t blink an eye at the money wewere borrowing because it was an investment into our futures. We were told after school we would land a high paying job to repay our loans. Unfortunately, with tuition rates on the rise, it’s looking like we got ourselves in a little too deep in student loan debt. The probability of being able to pay your student loans back in a reasonable time without negatively effecting your quality of life is not likely these days.

Here are a few things you can do to prevent student loan default.


There are a few great ways to ensure that you make your monthly student loan payments on time, every time. The easiest way is to set yourself up with automatic payments. If you are worried about having enough money in your account each month, set yourself a reminder a few days ahead of time. Or set 5 reminders. Whatever you do, don’t fall behind. It will hurt your credit score, or even worse the government will come after your tax refunds, even your paychecks.


Start earning money while you’re in school and be proactive. Many loans accrue interest even before graduation so a part-time job is a great way to keep your principle down. It’s also a great way to show your ability to multi-task and can even lead to future full-time positions. If you are able to save even $500 a month working part-time, that turns into $6,000 less you need to take out in the future. If you have already graduated and are working a full-time job but are still struggling to pay your loans, there are things you can do. Get a bar job one night a week, teach something you’re good at to others, take a free-lance position. You don’t need to pack your schedule so that you have no room to breathe and enjoy life, but let’s be honest — we got ourselves into this position, we need to hustle to get out.


This is the most important thing to remember. You are not going to be able to pay off your debt overnight. It is a long process. It is frustrating and stressful, but do not let it bring you down. Maintaining a positive and realistic attitude will help you be proactive and tackle the problem head on.

Check your options to see if you qualify for any federal loan forgiveness or repayment programs. Call us and let us take a personal look at your loans and see what we can do to help. Don’t let student loans define you.

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