If you're like most parents of about-to-graduate college kids, you may be dealing with the first little worries about those student loans they took out oh-so-long ago. Shouldn't those be coming due soon? Do your kids even know? It's time to start doing some serious thinking about those student loans - and figure out how the student loan pay-off process works.
- First, you should know that colleges offer exit student loan counseling to help your young 20something figure out what to do next. Make sure he goes. (My suggestion: It's his loan, not yours, but you may want to ask him to share what he learned. Repeating information helps imprint it.)
- Most student loans offer a 6-month grace period, so your kid has a chance to start earning a salary - fingers crossed. Your new grad needs to contact his loan company, make sure he's got that grace period going and find out when that first payment is due. Here's a quick primer on how that process works, and what to do if your kid is unemployed (or flipping burgers for minimum wage) when that first bill arrives. Check it out, then forward the link to your new graduate.
I would definitely recommend WetFeet’s series on interviewing, finding a job, resume writing, etc. Right now they are selling a package that includes an interviewing tutorial video, and it’s only $79. All of the books are really useful for recent grads or people graduating soon, but can be just as useful 10 years later.
Link: shop.wetfeet.com/gradpack
Also, campus career centers are an excellent, free source for this kind of information, including interview prep, resume advice and preparation, networking, internships and job leads. Many colleges open their career counseling centers to alumni as well as current students, so if your new grad is having trouble finding work, his college career center should be his first and most important stop.