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Dealing with student loan debt after graduation

MGN

MACON, Ga. -- According to the U.S. Federal Reserve, student loan debt has reached more than $1.5 trillion dollars in the first quarter of this year.

Graduation season is here, which means a degree, hopefully a job, and maybe even a towering stack of debt.

"If you get that really good job that you were looking for right out of college, then you can pay a little bit more," Georgia College Director of Financial Aid Daniel Miller said. "You can pay higher on the principal amount and pay them off quicker."

"And if you are in less-than-ideal financial circumstances, then I recommend you sign up for some form of income-base repayment just to make sure you are paying on them."

Miller says it's important to create a spending plan as soon as possible, so you can figure out which repayment plan will work for you and your situation.

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