Post-Graduate Resources

Congratulations! All that dedication and hard work has finally paid off and you've graduated from university. Now what, you ask? Well, you may decide it’s time to enter into the "real world," which comes with new financial challenges and rewarding experiences such as getting a job, paying off that looming student debt, and saving for your future.

Here are a few things you may want to keep in mind now that you’ve graduated.

Give Your Budget a Facelift

So now that you’ve graduated, your financial priorities have likely changed – no more tuition to pay for or textbooks to buy! Perhaps you just landed that first full-time job and are proudly bringing home your first paycheque. With your paycheque in hand, you may be wondering how to properly budget your new income so that you can afford all that you need while saving for all that you want.

Consider the 50-20-30 rule, which helps you build and maintain a budget by outlining three simple spending categories:

• 50% essential costs: Living expenses and other essentials, such as rent, utilities, food and transportation.
• 20% financial priorities: Financial goals, such as debt repayment, savings and investments.
• 30% personal priorities: Expenses that enhance your lifestyle, such as travel, fitness, eating out, etc.

Credits: mint blog, Forbes and Mac’s Money Centre.

Student Loan Repayment

You are responsible to pay your OSAP debt, including loans and any grant or bursary overpayments. You are given a six-month grace period on your loan after you leave school in which you are not required to make payments. During this time you will receive mail from the National Student Loan Service Centre (NSLSC), which will outline:

• What you owe;
• Your interest rate;
• The amount of each monthly repayment;
• Your repayment term; and
• Your first payment due date.

Your payments will be made to the NSLSC (not OSAP).

Should you have difficulty paying back your loan, consider applying for the Repayment Assistance Plan. Use the Repayment Assistance Estimator to see if you could be eligible.

Have questions or need more information? Contact the National Student Loan Service Centre.

Alumni Benefits

There are many awesome Laurier Alumni benefits and services available to you as an alumna/alumnus, including career development services, affordable home and car insurance and preferred entertainment ticket pricing. Be sure to check them out!