What To Do After College
Have you figured out what you are going to do after graduation? In today’s economic climate, it’s important that you have a good career plan after college. Remember, after graduation you will need to begin managing your student loan debt because you will soon be entering repayment and making payments every month.
Don’t know where to start? We’ve put together a guide listing some of the more common life decisions you will need to make after college. If you want more information on any of the topics listed below, simply click the link and read the full section.
What To Do After College Guide
- Graduate School
Now that jobs have become difficult to find after graduation, many college graduates are contemplating enrolling in graduate school. If you are looking for a way to enhance your education and boost your chances of landing a good job, not to mention improve your resume, graduate school might just be right for you. Just be aware that plenty of other students have that same idea, and therefore there may be stiff competition at the school of your choice. In addition, graduate school costs money. Make sure to take this into account as you plan how you are going to manage your student loan debt.
- Student Loan Repayment
Depending on the type of student loan(s) you have, you will likely be required to start making payments six months after graduation. If you have not yet secured employment or you are having trouble making payments, you’ll want to contact your lender. Federal student loans include repayment plans, loan deferment & forbearance options that can provide some relief.
The Federal Loan Consolidation Program offered by the Department of Education is a popular way to obtain lower monthly payments on most federal student loans. Some private lenders offer a consolidation program for private loans, called Private Loan Consolidation. Private loan consolidation is credit-based, so you’ll have to be approved by a lender to consolidate your private loans.
- Finding Jobs After College
It’s become increasingly difficult for college students to find jobs after graduation. Where employers once snatched up new talent directly from universities, there is now fewer jobs and many older, experienced workers looking for jobs that compete with recent grads. One thing you can do after college is to become an expert jobseeker with a good attitude. Don’t let the process get you down. You will need to ensure that you have a focused resume and cover letter, and sharp interviewing skills in order to stand out. In addition to putting your best foot forward, it’s important to know how to search for jobs and how to land an interview. Check out our Jobs After College section for all the tips and tricks.
- Learn to Manage Your Money After College
Whether you find a job after college or not, you need to learn how to manage your money. While you may already be good at managing your money, there are always new things to learn. We’ve put together information on investing, saving and retirement. If you make the right decisions about your money now, you will still be able to enjoy perks such as travel or purchasing a vehicle in the future. It’s all about budgeting, planning and making smart decisions in order to accomplish both your short and long-term goals.
- Build Credit
Most college students have very little credit history. But you have to start somewhere. While you may have an electric bill or a small credit card in your name, you probably haven’t been using credit long enough to build a good credit record for yourself. If you were careless in college and overdrew your bank account, exceeded your credit limit or forgot to pay a few bills, your credit record is going to reflect that. After college, it’s a good time to start fresh. Building good credit is one of the most fundamental ways to ensure you have access to borrow money in the future (for a car, a home or even a credit card) and get lower interest rates that will save you thousands of dollars.