In each new installment of the Sum180 Webcast, we discuss issues around your money and share tips to help you reach your goals.
We’re talking about the student loans and where you can expect to be financially 5 years after graduation.
The issue: The challenges that college graduates face trying to get their savings started, especially at a time when they might be facing a lot of student debt.
A great example of this is Cara, 22, a graphic design graduate from Chicago. She tells us her inbox is already crammed with emails regarding student loan debt. She’s not really sure how much she has, and also, she’s wondering, what is a reasonable time frame for paying everything down? Cara said to us, “I’m not sure how to manage my student debt. I’m not quite sure how much debt I’m in or how to go about paying off my loans.”
I think the questions that Cara has is one that a lot of post-grads have. Please play the video to hear my advice for Cara.
The question: Where should I be financially 5 years after graduation?
The question is from Justin, a 22 year old public relations grad. His question: “I just finished school and now have to navigate the transition from relying on financial assistance from my parents to learning how to juggle my own expenses, and it’s a lot at once, and so overwhelming on top of other transitions in my life. I don’t know where to begin. How should my salary break down so I can be sure I’m saving a little, while also paying off my loans? Where should I be in five years?”
Please play the video to hear my advice for Justin.
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