Student Loan Debt And Unemployment: Steps To Take For Your Loans

The College Investor Audio Show

When you’re unemployed, it’s hard enough getting out of bed in the morning, let alone searching for a job. Add to that the stress of dealing with your student loans and it’s a wonder you can get out of bed at all. Student loan debt and unemployment is not a fun combination.

We wish we could snap our fingers and make your student loans disappear when you can’t pay them (and even when you can). Instead, we’ll have to settle by giving you some advice on how to deal with them while you’re unemployed.

Before we go into it, the first thing you should do when unemployed is apply for unemployment benefits, if you’re eligible. Any income is a step in the right direction when you have bills you need to pay. Look up your state’s unemployment requirements to see if you’re eligible and how much you can get.

After that, you need to make sure your budget is in order and you're still handling your student loan debt.

Here's our advice that will hopefully get you on the right path so you can focus on your job search.