3 Money Lessons I Wish I Knew My First Summer After College — No. 2 Would've Saved Me $14K
The first summer after college feels like the beginning of financial independence. But it can also mark the onset of costly errors.
Cassie Leigh recently graduated from Pasco-Hernando State College with an Associate of Science in forensic science and a stackable certificate as a certified forensic technician.
Seven months later, she's about $20,000 in debt, working the same job she had before college and paying roughly $200 a month in loans. Here are money lessons she wishes she knew sooner.
Assuming a Degree Meant Guaranteed Job
Leigh expected to land a job in her field right out of college, then start paying back student loans. Neither happened as planned. She graduated in December 2025 and her deferred loans came due in July 2026 before she landed a job in forensic science.
"The number one mistake I made was thinking that having a science degree would mean I'd get hired right out of college — or, at the very least, before my deferred student loans kicked in," she said.
Federal student loans generally offer a six-month grace period after graduation or dropping below half-time enrollment, not six months after you land a job. That first payment is coming whether you land a job or not.
Borrowing More Than Tuition Actual Cost
As a part-time student, Leigh's classes were around $1,500 a semester. But she took out $4,000 to $7,000 in student loans each semester, using the difference to cover living expenses, gas and other costs.
“For a two-year degree, I'm about $20,000 in debt and still working the same job I had before I started college,” Leigh said.
The advice shared for recent graduates is to remember that every additional dollar you borrow comes with future interest and monthly payments. If you can take on a part-time job to cover living expenses, you may save yourself years of loan payments.
Plan for Student Loan Payments Before They Kick In
As a student, you might think that student loan payments are far off, but the deferment period will pass quickly. If you don’t budget for those monthly bills, they can potentially become a source of financial stress. “I am now paying roughly $200 a month in loans on top of my other living expenses,” she said.
The lesson Leigh learned was to know what your monthly payment is likely to be before you graduate — and live within that budget while you’re still in school. When you can comfortably set aside that before repayment begins, it will make the transition a lot smoother when the bills become real.
This article was provided by MoneyLion.com for informational purposes only and should not be construed as financial, legal or tax advice.