Life After College: Graduation

Showing posts with label Graduation. Show all posts

Showing posts with label Graduation. Show all posts

Monday, February 17, 2014

Post-College Expectations Vs. Reality

Where have I been for the past few weeks? Drilling Spanish children on what it means to be healthy or unhealthy? Yes. Over indulging in Spanish culture? Maybe. Ignoring blog world? Never.

The truth is that my computer suddenly decided it didn't love me anymore and now processes at a speed roughly slower than a snail/tortoise hybrid baby would. While it "claims" there is no virus, I'm currently only able to add anything to my blog when the BF isn't using his computer (and with his Master's presentation this week, that time has been few and far between).

With that being said, it's also been a while since I've had a post more about dealing with life after college, instead of my current life abroad in Spain. While this does happen to be my life after college, I understand that there are many who may come to this blog who aren't very interested in what I'm doing but are looking for advice in the process of leaving their college years behind.

Well this one's for you guys.

Last year before I came to Spain I wrote a post called: Common Life After College Myths Debunked talking about some common myths I had heard, and some I felt, before graduating. Now almost two years post-graduation (Seriously? One year after college was hard enough to process...) I'm realizing that all my own expectations and plans have changed, and not necessarily in a negative way.

I thought I would have a real job by now...

Yeah I know it wasn't a good market, and very few people were being hired...but I thought somehow I would be different. Those statistics didn't apply to me, I had done well in all my student teaching practicums and even won awards, it may take a few tries I would be hired. Wrong. I still remember the first teaching jobs I applied to where over 400 people applied to the same position and I wasn't even called in for an interview. I was heartbroken, like I wasn't a good enough teacher because I wasn't hired straight out of college.

But after I started substitute teaching I began to realize that those statistics were there for a reason, and that I wasn't the only one trying to break into the education field. There were so many subsitutes I met who had been struggling like this for nearly a decade! And I finally realized that not having my dream job right away didn't mean I wasn't good enough, I had to define my own worth because no job would do that for me. So I made up my mind that, that was the year I made the move to Spain. I wanted to do something different with my life, and while it's still not my dream job being an auxiliar, I feel much more fulfilled working long term with a group of students then subbing in their classroom a few times a year.

I didn't think I could stay healthy

For anyone that has ever known me I'm a food-iac. I love food, love eating, and worse have a killer sweet tooth. On the other hand though, I also love to workout and stay physically active, but have the vice that I easily get overwhelmed by pressure and nap when I should be sweating. While in school I was able to keep up the tentative balance, but was never quite happy with my health regime. Regardless, I was worried that I would be able to break old unhealthy patterns, hmm dessert you say?, and that I wouldn't be able to afford to have healthy meals.

May not look like much, but stuffed eggplants!

So I started to learn how to cook and the beauty that is moderation. In the U.S. the food was a little more difficult because fresh fruit and vegetables can be so expensive, but here in Spain fresh produce is my cheapest purchase. I've taken my health into my own hands by constantly searching for new healthy ways to cook the food I love. I've also started to tap into Spanish foods with my Christmas gift of a Spanish cook-book which is full of vegtables and fruits. Overall the most important thing I've learned is that while we eat to fuel our bodies, we also eat to enjoy. Between using fresh ingredients, cooking from scratch, and moderation I have stayed healthy and happy post-college. Not to mention staying active is now as easy as searching fitness on pinterest!

I thought my university would always be home

I was not the stereotypical college student, I spent more time with my friends off campus than on, but it still felt like home to me. And with friends still left behind, I thought that feeling would never change for me. Especially since my campus was fifteen minutes away from and I practically grew up on the campus. Instead, I found that from the moment I stepped back on campus that it wasn't home anymore.

I was working six days a week and while I was worried about bills and going to bed on time, my friends were talking about parties and their classes. I found that except for a few close friends, I couldn't relate to the people I had once hung out with anymore, or the goals that had for their lives at that moment. Everytime I returned to campus I just felt more and more like an outsider looking in and one night when I walked past my old dorm, and saw a light on in my old room, it became clear that I no longer belonged there. And wouldn't again. At first I was sad, but it gave me the push I needed to move out of my comfort levels. My old college may no longer be my home, but that didn't mean I had to lose my friends or the memories I would take with me.

I didn't think I could afford my loans

Oh student loans, why must you be so expensive? They're were one of the most daunting things about graduating. I just remember thinking helpless, how would I ever be able to pay them back? But then again, I'm a proactive person and spent my senior year working two jobs on top of my studies to save money. When my grace period was over I had already saved enough money to make the payments of my first year of loans. And last year I saved up enough money to make the payments for two more years.

Mini-Plaza Mayor at Parque Europa

Don't get me wrong, it was a lot more work then you may think, I had to sacrifice a lot of time and things that I wanted. But thanks to that work I have been able to travel and make it to Spain this year (and afford my loans). Yes, student loans are expensive, and a nuisance, and...you get the picture. But they don't have to be impossible. With planning and hard work, you can beat your loan payments and enjoy your life. If you need some help making sense of your loans, read my post about dealing with student loan debt.

I thought I would be near my friends

This has been one of the hardest pills to swallow about going to a college near my house, and moving abroad to Spain (both with my friends from high school and college). My friends are some of the most important people in my life and I thought I would be able to keep up our girl's nights and general adventures. Post-college and having moved away I feel like I have to start all over again. I feel like I'm back in high school, or a freshman in college trying to find new people I can connect with (particularly hard if you're introvert that does a poor ~~awkward~~ job at pretending to be an extrovert).

But the hards thing has been that being so far away means I have missed a lot, of both the good and the bad. I can't be there to congratulate my friends on the new job or comfort them when a loved one has passed away. Even with skype, facebook, email, and whatsapp I'm not a part of their lives like we used to be. I feel like I'm in a long distance relationship all over again, but this time with my friends. While it's not easy, I've learned that the friendships (like all types of relationships) will remain strong if all parties want it to work and the effort is made to stay in touch. Thanks technology!

I didn't think I could travel

Never in my wildest dreams did I ever think that post-college I would be able to travel, let alone live abroad. Believe me when I say it hasn't always been an easy path, but for me it has been worth all that I've had to given up. And when I say give up, I mean all those little things that we have been told we need to be able survive: the newest clothes, the latest technology, a big house, new car, etc. And if those things make you happy, there's nothing wrong with that. I know plently of people who look at what I'm doing with my life and wouldn't feel happy or fulfilled.

But if you're like me, and traveling is your dream, then anything is possible. Maybe I don't have the nicest phone or laptop, maybe I don't have designer clothes or expensive accessories, I have a great experience and great memories. I can say "Remember that time we rented an apartment in the center of Paris and could see the eiffel tower from our balcony?" or "Remember that time I celebrated my birthday in Pamplona at the Running of the Bulls?" or even "Remember that time I fell up a crowded metro escalator with all my luggage trying to make a plane to Sevilla on time?" (true story, complete wipe out). And those memories, even the embarrassing, are for me worth giving up all those little things.

How has the post-college life met your expectations?

Saturday, August 3, 2013

Common Life After College Myths Debunked

If any of you recent grads out there were like me this time last year then you probably are A) freaking out about what you'll do in the Fall or B) wondering if your new career/education/life choice is the right one for you. You're finally having that realization that this isn't just a regular summer break, you've graduated and won't be going back to life as usual come September.

Life after college can be a very emotional time where you're unsure of who you are and what you want. Navigating these murky waters can be equal parts exciting, confusing, and frustrating. I'm sure many of you had an idea in your head of what life after college would be, whether good or bad, and I'm sure many more of you have been surprised at how different it can be from your expectations.

There are many stereotypes that are perpetuated about life after college and after hearing all these myths myself in my first year after college I'm here to debunk some of the most common from my personal experience.

*[Please remember that these are my personal experiences and they are not a cookie-cutter for all college graduates, we all have different experiences with our lives after college. I would love to hear about your own experiences in the comments section!]

You'll Have Your Life Completely Sorted Out and Know Exactly What You're Meant to Do

One myth that I definitely felt forced on me was this one, and particularly by those of my parents' generation. It was always the same dreaded question: "So what are you going to do in the Fall?". AH! I just wanted to scream that I didn't know yet. This feeling that once you graduate you should have everything planned is very stressful for many new graduates who really feel the pressure to have their life sorted out.

Maybe our parents' generation was that way. Maybe they were able to leave school and come out with a job, but it's not so simple now. But more and more people are going to college and an undergraduate degree may not be enough to set you apart from the sea of all the other job seekers. We feel a lot of pressure to leave school knowing what we want to do and having opportunities lined up.

When I graduated I had only been hired for one district as a substitute teacher. It wasn't until the end of August/beginning of September that I was offered the after-school position and hired at two other districts; incredibly last minutes!

The reality is that we are young adults, we are humans, and we are not fixed. Who we are changes, what we want changes. Most of us leave college still very unsure about who we are as people and what we want to do with our lives. If you are unsure about what you'll do in the Fall or what you've chosen to do in the Fall, don't let it get to you. We are young and being unsure is the norm. It's perfectly okay to not be 100% about your future, that's what this time of your life is about. It's about trying different things, experimenting, and finding out who you are and what you want out of life. Embrace it and learn to love your life after college!

You'll Quickly Find a Well Paying Job in Your Field, That's What a Degree is For Right?

Some of you may have been lucky and have found a great paying job in your career, but for the rest of us it's probably not so easy. I remember when I first graduated last May knowing that my state had a bad job market for elementary school teachers, but it couldn't be that bad...right? Um, wrong. I started applying to teaching jobs confident in my abilities, I had won awards for my student teaching and worked in classrooms for years, but it wasn't enough.

I got e-mails saying that over 400 people had applied to nearly each position where I had submitted an application. Needless to say I didn't get my dream job my first year after college, in fact I didn't get any full-time job. Instead I took multiple part-time jobs that were in my career. They may have not been what I wanted, but they gave me the invaluable real-world career experience that I needed. I didn't get rich quick, but thanks to being a smart spender and having a budget in place I have saved enough for moving to Spain with the Auxiliares de Conversación program this Fall. The point is, you probably won't get your dream job right away, but you can still find something in your career and if you're a smart saver can still make plenty of money.

You'll Be Stuck in a Terrible Job That You'll Hate

On the other hand of the previous extreme is that you'll have a terrible job that you'll hate. Chances are you won't have a nightmarish job, and if by some cruel turn of fate you do, remember that this first post-graduate job is not the position you'll have for the remainder of your life! Even in the current job market there are other, jobs out there if you land one you can't stand. Maybe you need to expand your job criteria, think outside the box about how you can apply your skills or if need be, relocate to a different area. Teaching jobs in Rhode Island are scarce and I've looked into my options for getting my teaching certificate in other states as a possibility.

So yes, I didn't get my dream job, and yes, I didn't make tens of thousands, but I don't hate my jobs. They may not be perfect but are at least in my chosen field (which I absolutely love!) and I'm constantly gaining more experience. Don't panic over your first post-graduate job experience. Try to get as much experience and knowledge you can and if you still absolutely hate it find something else. Life is too short to spend it stuck in a job that you are miserable in. There are always possibilities out there, you may just have to look harder for some of them.

Living at Home as a New Graduate is the End of the World

Like most American college graduates, I lived away from home while in college and was not looking forward to the move back home after graduation. You've spent the past few years finally gaining your independence and freedom to be brought back home feeling like it almost never happened. While it may feel like the end of the world, it really isn't. If your parents or family allows you to move back home, especially rent free, I highly suggest you take them up on their kindness.

It may not seem ideal for you, you may want to try and push yourself out into the 'real-world', but with the money you will be saving on rent you can use this opportunity to save a substantial amount of money to help pay down your student loans and establish yourself in the future. Along with this savings boost, living at home can give you time to sort out your goals and aspirations without risking a financial loss. Living at home helped me save thousands that I was able to put towards moving to Spain this Fall. And if you're afraid about losing your independence talk with your family about what you all want and need from the living arrangement. They may be surprisingly accommodating, after all they were your age once before.

You'll Never be Able to Pay Off Your Student Loans or Afford Anything Ever Again

This fear of daunting student loan payments goes hand and hand with the financial benefits of moving back home. Some people may rack up student loan debt without thinking about it and some may not have any other way to afford college, but the need to repay what was borrowed remains the same. They can be very confusing and it can quickly seem impossible to make sense of your student loans. However, I promise that if you know as much as you can about your loans they will be much less scary.

What many new graduates may not realize is that lenders can be understanding and there may be programs in place to help make your student loan payments more affordable like: payment plans, interest rate deductions, etc. All you have to do is ask! It may take a while to pay off your loans, depending on how much you owe and if you reduce payments, but it is possible and one day you will. And having student loan payments doesn't mean you have to sacrifice all enjoyment in your life. You can still have money for things like: entertainment, shopping, and travel. You'll just have to work hard and sort your priorities; decide what is important to you and your life. Just remember that student loans are not the end of the world either!

You'll Have No Social Life and No Friends

This one is tough because it does have some truth in it. Working full-time makes it harder to have the social life that most college graduates are used to, and it is much harder to keep the friends you had in college as well as meet new ones. You will have as many breaks or time off as you did in school, but it doesn't mean you can't go out or enjoy your life as it is now (which I think is pretty fun, hello classy wine tastings!). Instead of having free time during the day you'll have to utilize your nights and weekends, which can be hard for friends still in college because you'll be running on different time schedules, but it is possible.

And now that you're out of school you are probably further away from your college friends, but it's always possible to bridge the gap in a long-distance relationship (ideas whether romantic or between friends!). It will require more work to keep these friendships strong, but you'll start to see who are the friends worth putting the effort into and which friends are better left in your college days. And as for making new friends, it can also be challenging post-college. You no longer have clubs or classes to meet new people and may not work in an environment with people, but like most things isn't impossible. You can make new friends and survive life after college by getting involved in your community and joining groups with people who have similar interests.

Put yourself out there and you will surely find interesting people that have the potential to be life long friends. I love my life after college and love the group of friends I've retained, and the new ones I've made. College may be over, but this is the start of the rest of your life. It's all about what you make of it.

And for those of you who need a laugh via Buzzfeed: Enter the Real World: Expectations vs. Reality. Enjoy.

What has your life after college been like? Have you found any of these 'myths' to be a reality in your personal experience?

Tuesday, May 21, 2013

Graduation: My Thoughts One Year Later

Wow. I can't believe that it's been one full year since I walked across the stage at my graduation.

Just a year ago I saw this banner across Upper College Road and realized, oh. I'm a college graduate!

This past weekend has been one full of graduations, as I watch my friends and family take this giant step for themselves. As I watched them with pride I've asked myself, how has this year changed me? Do I feel any different? Where has the time gone?

I've accomplished much in this past year; I've grown as a person, met my goals, made life changing decisions...yet I feel little difference. I guest that's not entirely true, I'm much happier post-college, but as a whole I feel quite unchanged; I feel no wiser nor more grown-up.

I thought I would feel 'it' when I picked up my cap and gown last spring. But I felt nothing. I thought, I must have to wait until I moved out of my dorm for the last time. But that just felt no different then going on summer break.

So it had to be the day of graduation as I officially donned the cap and gown with my 2012 tassels. Nope. When I walked across the stage? When I threw my cap in the air? When I got home after the ceremony!?

And now, a year later it still doesn't really feel like much. I'm merely surprised that instead of "Congratulations to the Class of 2012," I see "Congratulations to the Class of 2013."

(Granted the whole of graduation day was miserable. All (but one) of my best friends, including my boyfriend, were unable to attend; my finishing his own senior year back in Spain, one was in England, another in China, one stuck in New Jersey, another in Spain, and one at her own graduation in Maine. To make matters worse I couldn't afford the honor cord for my honor society and was too proud to have my loved ones pay for it. And then the icing on the cake was when they pronounced my name wrong as I walked across the stage. Oh well.

So the day itself was a bust...but I should have felt something after right? Some sense of accomplishment? I mean I had won multiple awards for my student teaching, paid my way through most of the four years myself, and graduated with honors in a double major while working multiple jobs every year. While you should feel a sense of pride and accomplishment at graduation, because through your hard-work you have done something amazing, you most likely won't have an epiphany after walking across that stage. In fact to me, it almost felt anti-climatic. That it's? I've graduated? Now what?

Graduation day will come and go, and the whole summer will pass after you walked across that stage and you won't feel much different. Then September rolls around and all your friends that didn't graduate are heading back to school. You'll see those statuses of them hanging out together late at night, going for impromptu drinks, going out to parties, weekend getaways, complaints about classes or professors, and the latest campus gossip. You'll watch as they post pictures doing the things you used to do, attending the events you used to attend, and participating in the organizations you used to be a part of.

You should feel relieved; no more college drama, no more coursework, no more gen. eds., no more dorm rooms, no more exams, or all nighters. But you don't think like that.

It hits you, not that you've taken this huge step forward in your life, but that you are stuck in limbo. You don't belong to the life you had before, but you're still on the cusp of the adult world and don't really fit in there either. As you watch you friends live their college lives from this glass divide you'll miss the freedom and sense of community you once had back in college. You'll miss feeling included and knowing there was always a place for you. Many of those college 'friends' won't last long as you move on from your studies. They'll be living their life on their college schedule and for many it just won't work with your post-college life.

You'll feel totally unprepared for the real world and its expectations. All of my teaching experiences, teaching courses, and practicums did not prepare me for my first day of substitute teaching. For walking into a classroom in a school you don't know, full of students you don't know, to teach lessons from a teacher that you just. do. not. know. I was terrified. I was unprepared. Did I really want to be a teacher? It was then as I walked into that strange classroom, months after graduation, that I realized I was unsure of what I wanted to do with my life.

No one told me that I still would be unsure; you're supposed to know these things after you graduate right? Now some of you may have jobs lined up, some may be going off to graduate school, but the rest of us. What do we do now?

Let me tell you a secret all you new graduates, one that would have saved me a lot of tears and anxiety. The truth is that it's perfectly okay and absolutely normal to walk off that stage and not know what to do next. Nobody, other than yourself, expects you to have the entirety of your future planned out so soon.

The reality is that you may (most likely will) not get your dream job for a very long time. The job market is still not at its best and it really is hard to find to find a steady, well-paying job for new graduates. I applied for multiple teaching jobs only to find out that over 300 people applied for each of them too. And why would they hire people with such little real-life experience? This can be a hard pill to swallow, after all that's why you got that degree; to get that big kid job you've dreamed of. Just know you are not the only one struggling with this. Try your best not to feel bitter or unaccomplished, especially if you know some young friend who scores their dream job right away. Here you are, working multiple part-time jobs trying to make ends meet while you budget your heart out and try to make sense of all your student loans. At this point you're probably well into those post-grad blues; wondering why was graduation good in the first place?

BUT

Did you really enjoy college that much? How quickly you've forgtten how much you hated most of your classes and couldn't stand all those exams and homework that seemed so pointless. And those friends who lose contact with you because you have different schedules, they weren't the important ones anyway. Your true friends will always try to make your schedules work and even if it takes months to find the time, you'll realize that once you're reunited nothing has changed between you. I don't miss college. Sure I miss the freedom, having my friends so near, and the memories I've made. Yeah I get nostalgic when I visit certain parts of campus now, but do I miss the actual college part? You know studying, interning, classes, homework, pleasing professors? No, just the comfort and security college offered; as a baby blanket is to the child afraid of the dark unknown.

And of course you will feel unprepared! Only real experience can truly prepare you. You have to throw yourself out there, fall down, and pick yourself back up again to truly be prepared for the real world. Turns out that first substitute job that I was so terrified over reaffirmed my life decision. But would I have known that if I hadn't graduated? I've learned far more about teaching in this past year of substitute teaching than I have learned in any practicum experience I had in college. Throwing myself out there made me realize I didn't need that baby blanket, I didn't need the protection of being in college. I could do this on my own and I have so much more to learn with the years of experience to come.

And those first jobs you so eagerly applied to but didn't get...so what? You're young and you have years upon years to work that big kid job. If you can find a job that relates in any way, shape, or form to what you want to do with your life, snatch it up. If you can't, then find any job that pays the bills, work your butt off, and apply like crazy to jobs you want. And if neither apply, well than save up some money and live your dreams; travel the world, do what you've always wanted, live your life. It probably wasn't your dream job anyway.

So yes. Graduating college is scary. You'll feel uncertain and unprepared, and maybe like me you won't feel anything for the longest time. The change to yourself comes slowly; over time, over experiencing the new exciting (yet often scary) things of the adult world. You won't know you're changing, you won't feel a bit different. But you'll get out there and start to realize post-college life is not so bad. You'll make mistakes and learn from them. You'll have jobs you'll love and jobs you hate. But always remember, don't settle for anything if it makes you unhappy. You will survive this. You're young and (most of us) have so few real responsibilities holdings us back. So take advantage of that, take a leap of faith, and live so that when you look years back from now you won't regret how you spent that youth.

So back to me a year after graduation. I knew after sacrificing so much to be able to afford college I had to take advantage of my youth and my desire to travel, so I applied to teach abroad. I will officially be moving to Spain this fall to teach English as an English assistant in Madrid with the government program Auxiliares de Conversación. BEDA contacted me recently on the wait-list to see if I was still interested in available positions, but I said no thank you. While it seems like an amazing program, I'm a firm believer in that things happen if they're supposed to happen and everything is a learning experience. I accepted Auxiliares and my decision just feels right. And for the first time after graduation I am perfectly content not knowing exactly what my future holds.

So congratulations graduating class of 2013. Don't let those post-grad blues get you down or make you doubt your passions. Post-college life a heck of a ride, but I truly believe that as long as you follow your heart and do what makes you happy, you can make your ever-changing dreams a reality. We can get through this together. I leave you all with one of my favorite quotes from one of my favorite movies:

"Carpe diem, seize the day boys, make your lives extraordinary."-Robin Williams, Dead Poet's Society

What has your experience been like post-graduation? How are you new graduates feeling?

Friday, May 17, 2013

Making Sense of Student Loans

Student loans are quite possibly the bane of every college graduate's existence (at least the unlucky majority who has to take out student loans). Yes I know, we borrowed the money and now we have to pay it back; that doesn't make it a more pleasant experience! Around this time of year college seniors all over the country are graduating, and for those not continuing onto graduate school, the reality of student loan repayment has probably become a bit too real, and most likely overwhelming.

Where do you start? What does it all mean? What do you do now?

Other than the pain you'll feel in your wallet every month for the next couple (or more) years, the real problem most new graduates seem to have is understanding these loans and what happens now. I am no financial expert, but over the past year of repayment I have conquered the student loan confusion (or at least fought through it and am still alive). I apologize in advance that this post may not be too interesting, but I hope at the very least it is helpful and informative.

The first step to understanding student loans, is to understand some of the most important terms.

Key Loan Terms:

Entrance/Exit Counseling-Required sessions for the borrower before they receive their first loan and once they leave school; counseling on loan knowledge and repayment.

Interest Rate-Fee that is charged by wherever/whoever you borrowed the money from. Can be fixed (percent doesn't change) or variable (rate can change periodically).
Grace Period-The period between when you leave school and have to start making loan payments.
Principal-The amount you actually borrowed, once you start repaying means what you have left of this original amount still owed.
Subsidized-Loan where the government pays the interest rate while you are in school and during the grace period or any deferments.
Unsubsidized-Loan where the student is responsible for paying the interest at all times, even in school or deferment.
Federal Loans-Loans offered and regulated by the government (Stafford loans are federal loans)
Private Loans-A loan that is made by a private lender (banks, etc.) based on credit score
Consolidation-When the borrower can combine multiple loans into one loan with a fixed, but often higher, interest rate (often available for federal loans).
Forbearance-When you temporarily suspend or reduce repayment of student loans, regardless of your loan type your interest will accrue (add up).
Deferment-When you temporarily suspend repayment of student loans (interest doesn't accrue if you have Subsidized federal loans), you must meet certain qualifications.
Capitalization-When the interest you have accrued adds to the principal balance and increases what you owe.

Now wasn't that fun?!

Seriously though, get used to many of those terms because you'll be looking at some of them for, most likely, the next few years.

The first thing that happens when you will be leaving school is you'll complete exit counseling on your loans (you may have recently had to do this). Usually it's online and you have to read a lot of information and answer the questions correctly to complete it successfully. Once your exit counseling is done, I highly suggest you look over your loans and lender websites. Familiarize yourself with these sites and where and how you can access your loan information. Find out important information like:

When your grace period ends (when you'll have to start making payments)
What types of loans (private, federal, subsidized, unsubsidized) you have
Your interest rates for your loans
What payment options/programs are offered by your lender
The total amount you borrowed

Once you know this, you can estimate the monthly payment amount you would have to pay. The website for my loans had some helpful information and your lender may even have sent paperwork estimating how much your payments could be. Lenders, at least the ones for my federal loans, usually estimate these payments based on paying them off within ten years and how much you have borrowed.

For me, I knew I had all Federal Subsidized loans and that their grace period ended in November. I was able to estimate pretty accurately what my monthly payment amount would be and was able to plan my budget accordingly.

With this estimated payment amount you can start to figure out whether you you can afford the expected payments. If you looked at your savings/income and can, then that's great and you should start preparing for how you want to make those payments. If you cannot or think you will not be able to, look at what payment plan options are offered by your loan provider.

Most lenders offer payment plans where you can reduce your monthly payments by extending your period of repayment, this option is often based on your income.

My lender has a graduated payment plan where the monthly payments start lower and over time they increase (assuming over the years you will have a higher income and can pay more).

For some there are also the options of forbearance and deferment. As explained above, both are ways to postpone payments. If you think they are an option for you, make sure to get in touch with your lender to see how you can qualify/apply.

Depending on if you use one of these options you may have to deal with the capitalization on your loan (the interest that has added up while you haven't been paying).

If you can make the monthly payments, then think about how would you like to make your payments. Generally you either can pay via paper (you get mailed the bill), pay online, or you get the money drafted directly from your bank account. I chose to have the money drafted so I wouldn't forget to make a payment and also my lender offers .25% off the interest rate of any loans I have drafted directly from my bank account. The convenience and incentive of a lower interest rate made drafting the best decision for me.

In addition, you don't have to wait until your grace period is over to make payments, you can make payments whenever you can afford to. For a subsidized loan if you make payment before your grace period ends then you are paying down your principal which means you will have less money for interest to build on. I paid what I could afford to help lower my principal, especially for my loans with higher interest rates.

Extra Advice Tidbits

If you have multiple loans with multiple interest rates you may also want to look at consolidation. This will combine all of your loans (you cannot combine federal and private though, you can consolidate only the same type of loan) so you pay one amount monthly. Often this may make your interest rate higher, but it will be fixed and the rate will depend on the amount you owe.

Loan Forgiveness is another option that is offered by many federal or need-based loans. My different federal /need-based loans offer loan forgiveness for teaching, public service, disability, nursing, etc. You have to meet certain criteria to be considered eligible and depending on the criteria you meet you can have up to a certain amount of your debt 'forgiven' (paid off). Look into what programs your lenders offer to see if you can qualify for loan forgiveness.

Final Thoughts

It's important to look over all of this throughout the next couple of months because your grace period will be up before you know it! The best thing you can do is to educate yourself and be prepared for the inevitable. It can seem daunting when the payments actually start being due, and sometimes it feels like you'll be paying them off forever.

But remember to relax, take a deep breath, and know that there are plenty of options out there if you ever need help making payments. Know these options, and know that it's okay to ask your lender for any help or clarification. Student loans are part of the lives for most college graduates and if you take the time to understand them first then the whole process will be a bit less stressful. You can do this, you can survive life after college, and you will pay all your loans off one day!

Do you have student loan debt too? What advice do you have for anyone dealing with student loans?

Thursday, April 25, 2013

Surviving Life After College

It's getting to be that time of year... College graduation time.

All over the country college seniors are finalizing all their projects, essays, theses, and internships while preparing for their plunge into the adult world. A lot of my graduating friends have mentioned how scared they are to take this giant step, and that's normal! Graduating college is a scary thing. I remember last year at this time, with only a few weeks remaining of my senior year, feeling excited, afraid, and anxious all at the same time. All of this mixed with relief that you're almost done with all those years of school, a dash of excitement that you're finally on the road to starting your real life, and more fear at the fact that 'Oh crap. You're actually starting your real life!' But don't worry; it's not as bad as you think! I promise that you will get through it and who knows, you may even enjoy your post-college life more! To help you along here are my tips on surviving life after college (in no particular order):

Have Working Goals and Plans

One big piece of pre-graduation advice is to have some working goals or plans in your head on what you want to do after college, both short-term and (relatively) long-term. Many choose graduate school right out of college, some already have careers lined up, but the majority fall into the 'I have no idea what I'm doing with my life now.' To help answer that dreaded question: 'so what are you going to do in the fall?' it's important to start thinking of the options out there. My main goal after graduation was to move to Spain the following year with one of the English teaching programs I had researched [Auxiliares de Conversación, BEDA, UCETAM, CIEE (offered in 7 countries), and Fulbright ETA (offered globally, check site for details)].

With all of this in mind I knew I would have to start planning for the applications, start saving money for the initial living expenses abroad, save for student loans payments while abroad, and gain as much experience as possible beforehand. I planned my budget around what I wanted to do and found enough jobs to cover the expenses I estimated I would need to put my plans into action. Because I had these working goals in mind so early I am nearly saved up for the flight to Spain, the first three months abroad (in case of payment issues), and my student loan payments for next year. Remember, it doesn't need to be set goals or plans. I started out with the idea of going abroad and then worked out how I could make it possible! If you have your mind set on something you can make it work too!

Get a Job (Any Job)

That leads into this piece of advice: get a job. Easier said than done right? Unfortunately it may not be a dream job in your career but any job is better than no job. And three jobs are better than one job, right...? Before you graduate see if the career services office at your university can look over your resume, go to as many job fairs as you can, and if all else fails find some job(s) that help you get by until you kick butt all the way to your dream job. I graduated with a degree in elementary education and history and I applied for multiple teaching jobs upon graduation but was not chosen (I guess it's difficult when 300+ people applied for one position...), instead I continued with my goals set on Spain and looked for other jobs in the education/childcare field.

I finally decided to take the traditional route to becoming a full-time teacher and applied to be a substitute teacher in different school districts. On top of that I was hired to be the site director of an after-school program run by the local YMCA, it's not perfect but it works for me because I can still sub in the morning and once a week I work the desk at the Y for my free gym membership. Try to find something (anything) in your desired field to gain experience and if it's not enough, find another job to help make ends meet until a better offer comes along. Those pesky student loans won't pay themselves!

Organize and Understand Your Student Loans/Debt

Oh student loans, the bane of my existence. At best they can be confusing and at worst they just make you want to burst into tears. If you can, get some loan counseling from your university before you graduate. Start looking at the terms and policies of your student loans; know when your grace period ends, estimate your monthly payments, know what your interest rates are, look into payment plans/deferrals/forbearance if you do not have enough for the monthly payments. Familiarize yourself with the websites that your loans are based out of so that when you do have to make the payments you know what you'll have to do. If you can afford to make some payments before your grace period ends to help pay down the principal balance.

I have all government loans and I chose to have the payments drafted from my bank account directly so I don't forget any payments, it had the added bonus that this payment method reduces my interest rates by .25%. If you start looking at your loans now it won't be so frustrating months from now when you have to start those painful payments!

Create a Budget

I cannot say enough how important it is to create a good working budget. A good budget will help you organize your finances, keep you on track for your saving goals, and help you retain your sanity as the reality of student loans/debt hits you like a high-speed train. There are many different budget templates on the internet and most banks may offer some on their websites/locations too. Find one that works for your life and saving needs. If your first budgeting attempt doesn't work, don't stick with that template. I am constantly changing the format of my budget to better suit my needs. Budgets are meant to make your life easier, not stress you out more. I think it is most important to consider your income, bills, emergency funds, monthly necessities and saving needs prior to leisure/spending money. Once what you know what you owe or how much you have to save up for, then you can see how much you have left to spend on going out and entertainment purposes. That way you can keep from overspending.

Don't Let the Post-Grad Blues Get You Down

Adjusting to life after college is not easy. Many of us went from living in a dorm or with friends to moving back home with our families. You lose that sense of community, your independence, and your own private space. The transition from college life to the 'real world' often leaves us with some good old post-grad blues wondering why did we think graduation was good? What do you do now with your life? It's hard to say when all you've ever known was being in school and with this economy not giving us the best job market. This feeling may be stronger for those who still have friends in college. I know visiting my friends still at my old university makes me feel out of place, like you don't belong anymore; only making the emotions of leaving more challenging.

Hold in there though, it gets better. It's important to remember that you're not alone and that many people are trying to come to terms with the same feelings. I felt the same at first, but once I started working I actually realized that I LOVE life after college. I love not having classes and I love working, feeling that for once I'm actually taking myself somewhere instead of just doing the classes and work because I have to graduate. You may be busy, you may be broke, but you are starting out on your crazy, beautiful life and you find that you start doing things you love because you want to do them. So stay positive and busy and you'll work through those post-grad blues in no times.

Work on your Relationships

One negative about life after college is dealing with the relationships in your life, and not just the romantic ones. Out of college it's much harder to meet new people. You're not constantly surrounded by a community of people around your own age and it can be hard to keep in touch with your friends still in college because of your different schedules. To make new friends, try to talk with other employees where you work; do you share common interests? You could look at different social activities in your local community. Are there any organizations or groups that interest you? Volunteering is also a great option to meet new and interesting people. Plus all the new, amazing people you will meet will be a great way to network for your dream job!

With your college friends you already have, part of the challenge may be in the distance that you may be apart now, if this is the case be sure to keep and touch and try to visit when you can. Having a friend in another city or state is a great reason to take a road trip! If your college friends are still nearby try to get together when your schedules can work out. I know how challenging this can be; with my friends it often seems like we're on completely different time frames. During the week I go to bed much earlier than they do and I often get out of work too late to want to drive over. If the friendship is worth it, keep putting the effort in and eventually it will work out.

As for romantic relationships, many people may find themselves in a long distance relationship if they were from different cities, states, or even countries! Like with your college friends you may be apart from, try to make it work by talking and visiting as often as you can. Anything is possible if you want it and work enough to keep it strong. It may not be easy, but a long distance relationship with the right person can absolutely be worth it.

Find a Hobby

This may sound like a silly survival tip, but finding a hobby is a great way to help beat the post-grad blues and work on your relationships. I know that being busy and working on something I genuinely was interested in helped me get over my bout of post-grad blues. In my spare time I practice my Spanish, go to the gym, read a lot of books, work on my scrapbooks, and knit. I know some of those hobbies may not sound interesting for everyone (knitting may not be the 'coolest') but for me they're a perfect way to keep happy and busy when I'm not working. And some of these are even better because my friends enjoy them too, nothing is better than a hobby you can do with friends and on your own.

Another thing I enjoy, not quite a 'hobby', is volunteering. I volunteer for an organization called WaterFire Providence. It's a non-profit arts organization based out of Providence that sets up events sponsoring the arts every other weekend during the summers (in the Providence locations). It's based around the fires that are lit around the rivers in Providence, and this upcoming season will be my fourth volunteering on the wood boats. I was even asked to train to be a captain this season and will have my first training coming up in a few weeks. Check out the website here: WaterFire Providence. It's been a great way to meet new people and a great way to network, on the boats we meet a lot of important people in Rhode Island who are our guests. If you have the opportunity to volunteer somewhere I suggest you take it, it's one of the best feelings to do something you love and help others at the same time.

Enjoy Every Minute!

Last, but certainly not least, is to enjoy every minute of your life. Remember that it's your life and do with it what you want and what makes you happy. If you want to travel, travel. If you want want to move to another state, do it. If you want to gets a Master's or PhD, don't let anything stop you. Live so that you don't regret a single choice you make. Even if you can't afford your dreams right now, work your butt off and do it a few years down the road; you're never too old for happiness. Surviving life after college may be a struggle at times, and you may get down, but always remember that you can do it. Remember to stop and smell the roses, that sometimes those 'huge' problems really aren't so big. And most importantly remember that yes, you are tough enough and yes, you deserve the best. So enjoy what life after college brings you!

What are your tips for surviving life after college?

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