If you’re a new graduate or soon to be graduate financing your student loans may be crossing your mind.
The National Student Loans Service Centre began sending out emails to spring graduates.
regarding their loans and are looking for repayments.
There are ways for students who will be graduating shortly to get ahead on managing hefty loans.
Kelly Armstrong, a Financial Aid Outreach Coordinator at Fanshawe discussed ways to manage the debt early and that it will literally pay off in the long run.
“The sooner you pay back your loan, the less you’ll owe…You don’t have to spend all of your OSAP money.”
Armstrong advises students to apply for any bursaries eligible to them and to consider only taking OSAP grants instead of loans if possible.
After graduation loan repayments might be difficult to manage on your own.
Levi Squires, a Financial Advisor with TD Canada Trust says graduated student’s who are headed out in the world should speak with their bank about managing any debts, and spending their money wisely.
