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8 moves for college seniors

This has some great advice for recent or soon-to-be college graduates.



Every summer, hordes of freshly minted college graduates are released into the real world. Many will be woefully unprepared for the credit and money demands of life off campus.

If you’re among this group of college seniors but financial newbies, prepare to rise above the unready fray. Here are the most crucial money steps college seniors need to take before tossing their caps into the air. Don’t worry, though: Each is easier than organic chemistry.

No.  1: Confront — and maybe change — your student loan payments. Avoid sticker shock by calling or logging on to your loan servicer and seeing how much your monthly payments will be. For federally guaranteed loans, you’ll automatically be placed on the 10-year repayment plan, which could mean high payments. If managing that payment seems unlikely, you can request an alternative arrangement. “You may opt for the extended repayment plan, which is 25 years and has a lower monthly payment,” says Scott Gamm, founder of, a website that helps students and their families learn about money. Know, however, that the longer you stretch the payments out, the more interest will be added to what you owe.

How to establish credit

No. 2: Pull your credit report and scores

8 moves for college seniors – – MSN Money.

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