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Take Advantage of the Student Loan Grace
BLOOM CINCO COMIC DERBY EMERALD GEMINI GRADUATION LILY MEMORIAL
WITH HIGH-YIELD BANKING
MOTHER RENEWAL VETERANS
More than 43 million adults have student loan debt. These loans are not easy to pay off, but it’s much easier with some strategic financial planning. This method uses a six-month grace period, high-yield savings accounts, and good savings habits. The lowdown on loan grace period. With any financial planning, the first step is to get a clear picture of the situation, which is no different. You want to calculate your minimum monthly payment. There are many calculators online just for this purpose. For reference’s sake, the average monthly loan payment for people with a bachelor’s degree is $302, while those with a master’s pay $688. Most federal student loans have a six-month grace period after graduation and before you must start making payments. Direct Subsidized, Direct Unsubsidized, and Federal Family Education Loans fall under this category. Perkins Loans have a nine-month grace period, so they can benefit even more from this financial plan. Note that interest accrues during your grace period. Get better rates with a high-yield savings account. Once you start earning an income, you’ll need to work fast. Open up a high- yield savings account immediately. These accounts have a much higher interest than their traditional counterparts — up to 12 times higher. Not all banks offer them, and not all have the same annual percentage yield (APY). Currently, SoFi has a sky-high APY of 4.6%, while Wells Fargo’s highest interest accounts only reach 2.51%. Carefully research the bank you’re using and read the fine print. High-yield accounts have a few drawbacks. Generally, you can’t make more than a few withdrawals a month. Few banks offer ATM cards for these accounts. They’re perfect for carving off student loan debt but not for daily finances. Once you’ve set up the account, it’s time to start saving. Deposit any extra cash from your loan payment into your high-yield account. When the grace period ends, you’ll have a savings account to keep up with your loan and its interest. Student loan debt is a huge hurdle for every college graduate, but you can pay your loans off with a little savvy planning. Keep the goal in mind whenever you make that monthly deposit. Soon, you’ll no longer count yourself among the millions of indebted Americans.
INGREDIENTS
For sauce: •
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1 1/2 lb flank steak 1/2 cup unsweetened coconut milk
1 cup unsweetened coconut milk 1–2 tbsp Thai red curry paste 1 tbsp brown sugar 1 tbsp fish sauce 1/2 cup creamy peanut butter
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2 tbsp lime juice
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1–3 tbsp Thai red curry paste
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1 tbsp fish sauce
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1 tbsp lime juice
DIRECTIONS
1. Freeze flank steak for 30 minutes. Cut crosswise, against the grain, into thin slices. 2. In a medium bowl, whisk together coconut milk, lime juice, curry paste, and fish sauce. Add steak and toss to coat. Cover and chill for 8 hours. 3. In a small saucepan over medium heat, combine coconut milk, curry paste, brown sugar, and fish sauce. Bring to a gentle boil for 3 minutes, stirring occasionally. Add peanut butter and stir until well blended. Remove from heat and add lime juice. 4. Thread the marinated meat onto 12 long skewers. Grill until beef is medium rare, 1–2 minutes per side. 5. Transfer satay to a platter and serve with peanut sauce.
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