Harper College

Pay Off Your Loans

After you graduate from college, you have a responsibility to pay off any student loans in a timely manner. If you do not pay them, the information can negatively impact your credit. If your credit is damaged, you cannot buy a car, rent an apartment or buy a house without a cosigner.

Pay your debts as soon as possible

The longer you maintain a debt, the more interest you are charged. It may be tempting to relax a little after finishing school, but it is better, in the long run, to pay your debts quickly by sending in more than the minimum payment.

Track your debt

Know what you owe and to whom, what the payments are and how soon you can pay them off. Consider creating a spreadsheet to keep track of this information.

Explore payment options

There are several ways you can approach paying off your student loans. See Resources for a detailed list of popular loan payment options.

Last Updated: 12/14/23