Why is controlling your student loan debt important after graduation?

Controlling your student loan debt after graduation is essential because it helps to avoid excessive monthly payments. When graduates manage their debt effectively, they can ensure that their loan payments remain manageable in relation to their income. This balance is crucial for maintaining financial stability and avoiding financial stress.

High monthly payments can significantly impact one's budget, leaving less room for other necessary expenses like housing, transportation, and living costs. Moreover, managing student loan debt effectively can also positively influence credit scores, making it easier to secure favorable terms on future loans, such as mortgages or car loans. This demonstrates the importance of taking a proactive approach to financial planning well after graduation.