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