I recently published an article on the dangers and benefits of student loans and other forms of college financial aid – here is a quote from it, in case you are interested:
Student loans repayment can be a real nightmare without adopting some strategies that would help the new graduates to organize their social and financial life. Here are some strategies they can use to do this:
- An additional part-time job;
- Freelancing is another option (meaning that they can do particular pieces of work for different organisations, without working all the time for a single organisation);
- They should try to keep their living expenses as low as possible (live in a smaller apartment, live with a roommate to share some of the expenses, find an apartment that is closer to the job, to eliminate the extra-expenses for transport etc.);
- To apply for forbearance (this is an immediate solution for hard times when the new graduate is in impossibility to re-pay the amount of money and the need for student loan consolidation becomes apparent; it is a temporary period, when the graduate can postpone or delay his or her re-payments until a later time on a federal or direct loan after the beginning of the re-payment, and when the student doesn’t qualify for deferral). The forbearance must be applied through the lenders of the loans.
- To consolidate the payments.
If you feel this helps, please drop by my website for additional information, such as federal student loans information or additional resources on private student loans .

Regards,

Michael

One word of advice on the advanced degree… I have a background in communications and chose to pursue that as my advanced degree. Although it has more than paid off in salary advances and job opportunities, in hindsight, I would consider an MBA. The degree is more recognized (making you more marketable), and tends to command a higher salary, even with other factors being equal. I also think it helps give a better head for business, which at the end of the day, can help us be more valuable to our companies.

Whatever path you choose, you will be successful because of your dedication. Best wishes!

Financially, have you taken a look at Daveramsey.com. He is a financial consultant with some great ways of managing a budget and getting out of debt and building wealth.