April 16, 2025 - 17:32
After an extended period of payment pauses, student loan borrowers are now facing the reality of repaying their loans. This transition can be daunting, but understanding how to manage finances during this critical time is essential. Amanda Hahnel, a Vice President at Fidelity Investments specializing in emerging products related to student debt, offers valuable insights for recent graduates.
To effectively navigate this new landscape, borrowers should first assess their current loan balances and repayment terms. It's crucial to know exactly what is owed and the timeline for payments to begin. This information will help in budgeting and planning for monthly expenses.
Additionally, graduates should explore various repayment options available to them, including income-driven repayment plans and potential loan forgiveness programs. By taking proactive steps and seeking guidance, borrowers can alleviate some of the stress associated with managing their student loans and ensure a smoother transition into repayment.
