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If you’re a recent college graduate or about to graduate this year, there are several financial considerations to make that you didn’t have to think about while you were still in college. You should think about making money moves right now before you graduate from college. Now is the time to start thinking about your financial future.

Money Moves to Make Right After Graduating College

Although planning out your short and long-term financial situations may seem like a chore when you’re in the midst of writing essays and studying for tests, here are three extremely important things to consider for soon-to-be graduates.

Figure Out Student Loan Repayments

If you’re drowning in student loan debt after graduation, then your first priority should be getting on track to start paying off your loans. There are several options available for paying off your student loans, including income-based repayments for federal loans, refinancing your private student loans, and possibly even finding a job that will pay off your student loans for you.

Once you figure out how you can pay off your student loans, your next step is determining when you need to start (it’s usually not right away, but 4-6 months after finishing your credential or degree) and how much you should pay off.

The federal government’s student loan website has a nifty student loan repayment calculator to help you determine how much money you should put towards your student loan balance each month. It can be advantageous to pay off more than your minimum payment because this will decrease the timeframe of the loan as well as save you tons of money on student loan interest.

It’s important to ignore student loan myths at this stage because many people get caught up in the frantic race to get rid of debt and sometimes fall into traps that may end up costing you money rather than saving money. Don’t be so quick to sign up with companies that promise to solve all of your debt problems; instead, follow the government-approved guidelines to figure out the best path to debt-free living after college.

Move Out on Your Own

If you’ve been living with your parents or in college dorms for most of your higher education experience, then it’s probably time to move out on your own. Planning carefully at this stage will prevent you from feeling overwhelmed by the whole experience of settling into a new job, paying off student loans, and starting out in the world on your own.

Unless you have a ton of…