Community Post: The 17 Ups And Downs Of The Student Loan Lifecycle

Greek life, study sessions, traveling abroad, and kegs stands with the dean. Yes, all of those fond memories of college are immediately crushed to a pulp once you add student loans into the mix. If you don’t plan accordingly, you may just find yourself on the fast track to an all expense paid trip to delinquency-ville. Check out the 17 ups and downs of the student loan lifecycle:

1. The Trauma of Financial Aid Paperwork

Bella had a baby, then she died and I still have to go home and work on my FAFSA…

2. The Sheer Joy of College Acceptance

Getting into my first choice college: YOLO!

3. The Headaches of Dealing with the Financial Aid Office

Dobby must punish himself for using blue ink instead of black!

4. The Unfortunate Allure of Easy Private Loans

The dance of the private student loan lender can be strangely seductive!

5. The Unadulterated Thrill of a Refund Check

What? I get money in my pocket from my financial aid to spend on whatever I want???

6. Offers of More Easy Private Student Loans Each Year

Are you kidding? I can borrow more and more money and you’ll keep sending me checks?

7. Graduation Day Arrives With All Its Glory

I did it, oh yeah. I did it, oh yeah. I’m a graduate, oh yeah. Check me out, oh yeah…

8. Reveling in Your Six Month Post-Grad Grace Period

Got no worries. Got my degree. Got plenty of time to get a job before my loans come due…

9. OMG! Your Grace Period Is Over!

Uh-oh. Here comes my student loan payments. No job. Life coming at me too fast. Aaaaaaaagh!

10. Utter. Confusion.

Can’t think… What to do about… Huge student loan payment… Still no job… Brain cramp…

11. Late Notices Start

Must pay my student loan or else. Ouch! Must pay my student loan or else. Ouch!

12. Forbearance Granted!

Thankfully my student loan forbearance notice came in the mail today!

13. Land a Job

Just got my first job out of college – what do you think of the uniform?

14. Realize You Still Can’t Afford Your Payments

Yikes. Paycheck not stretching to cover all bills. No… room… to… breathe…

15. Enroll in IBR

OMG! OMG! Really? I can get an income based repayment plan? Fabulous!

16. Start Making Consistent Payments

Get paid. Make student loan payment. Get paid. Make student loan payment. Repeat as necessary.

17. Pay Off Your Loans – Yeah Right.

After 40 years, paid off all my student loans I did. Almost too old to celebrate, I am.

Wait! Before you toss that letter from Sallie Mae into the junk drawer abyss… there is a tool that can avenge you! No matter what kind of loans you have – public or private – how much you have or how many lenders,’s FREE (yes, free) student loan management tool can help you keep track of your debt in one easy dashboard. Put that burrito down and start taking charge of your student loans.

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