College

Are you one of those who have yet to settle their student loans? If so, you must have these questions in mind: Are federal student loan payments paused? How long will federal payments remain paused? Will student loans be canceled?

Graduating from college is a huge achievement — congrats if you’ve recently received your diploma! However, along with the pomp and circumstance, lay a few more serious responsibilities to pay attention to. That includes your budget.

Paying off loans is a challenging task. Today’s young people are not the only ones plagued by student loans. The debt is a nuisance for adults too. If you have taken on a student loan, you may want to get rid of it faster than the lender requires. There is no magic bullet, but there are things you could do to pay off your debt faster.

When you are a student, you have to adapt to many changes that occur in your life. First, you will leave your home. You might think living away from your home and parents is an excellent way to showcase your independent spirit, but you will soon realize that things are not always as rosy as your hopes.

For college students, understanding and being familiar with their debt-to-income ratio is an important piece of the puzzle in terms of getting a head start on securing their financial future.