Senior year stress: best ways to handle student loans in Cali?

[BruceAdams]

My original plan was to get a job after graduation, but lately, I've been daydreaming about starting my own business . However, the whole financial aid situation is throwing me off my game. Student loans in Cali are no joke ! The stress of dealing with finances on top of senioritis and thesis deadlines is draining me. As someone drowning in financial aid forms and juggling my courses and job search, I'm looking for advice from my fellow Cali students. How do you handle student loans in California? Any tips or resources to ease this burden? And hey, any other Burnout Seniors out there feeling the struggle?

 

[Dennis]

here's my honest advice:

don't start a business with high-interest private loans looming. seriously. private loans have NO flexibility. if you miss a payment, your credit is ruined and they can garnish wages. federal loans have safety nets (income-driven, deferment, forbearance). if your loans are private, focus on paying those down FIRST or refinance them to federal if possible (it's complicated but doable).

if your loans are federal, income-driven repayment is your friend. you can pay as little as $0/month while you build the business. interest still accrues but you won't default.

california specific: look into the CalLoan program if you haven't already. also some cities (like SF and LA) have loan repayment assistance for residents working in certain fields.

also senior year burnout is REAL. take care of yourself first. the loans will still be there tomorrow.