You graduated law school — now here’s your student debt.

1
Jul

recent college graduate surrounded by bills on floor with a dogCongratulations on completing at least 7 years of college. You made it through your undergrad degree, got into law school, graduated, and passed the bar. Now what?

Like most recent grads, you’re probably trying to figure out what to do next. Will you move to a new city or stay where you are? Will you decide to be done with school, or keep going and specialize in a particular area of law? Most importantly, where are you going to work? The good news is that if you graduated with student loans you could have up to six months to figure it out.

So what are your first steps?

Find a job.

The first thing you’ll want to do to start paying off your student debt is to find a job. While the majority of recently graduated law students look forward to being recruited by a law firm, there are a number of other jobs graduating law students are qualified for. The most important thing is to find a steady job that will provide you with enough income to pay your bills and give you a good quality of life.

Stick to a budget.

Once you land a new job, you’ll want to reassess your budget by keeping your new income and student loan payments in mind. According to Law School Transparency, the average recent law school graduate has anywhere between $90,000-$140,000 of student loan debt, depending on if the school is a public or private institution. This is why it’s important to pick a student loan repayment plan that fits your budget and lifestyle.

Refinance your student loans.

You found a job. You made a budget, but you still feel like you’re drowning in student loan bills. There is a solution — refinancing.

If you’re a member of the State Bar of Texas and are struggling with your student loan debt or are curious if you could benefit from refinancing, the Texas Bar Private Insurance Exchange is here for you. Together in partnership with SoFi, you can consolidate and refinance your student loan debt with a low-interest rate – and receive a $300 welcome bonus.

To get started, visit https://texasbar.memberbenefits.com/student-loan-refinancing/ to learn more and find your rate.