Student Loan Overhaul

Though graduation might not seem that long ago, the six-month grace period on federal student loans is ending this month for many Class of 2012 grads and now it's time to start making  monthly loan repayments.According to a report by the Institute for College Access and Success's Project on Student Debt , the average student loan debt for Class of 2011 borrowers rose to about $26,500, a 5% increase from about $25,350 the previous year. With a new post-collegiate lifestyle and expenses, it's important for grads to keep track of their spending and create a monthly budget that includes their student loan payment, says Nancy Register, director of America Saves ."They may find that they will need to cut out unnecessary items in order to pay down their debt or that they can pay a little extra each month to pay down their debt even faster," she says.To stay on top on payments each month and to eliminate debt as quickly as possible, here are four ways grads can keep up with their loan obligati...

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