May 11, 2017

ABA: 6 Financial Traps New College Graduates Should Avoid

​WASHINGTON — More than 70 percent of college graduates began their career owing more than $37,000 in student loans in 2016. Considering this debt load and other living expenses that lead young adults to delay major life events like getting married or buying a home, it’s critical for new college graduates to focus on their financial future as they receive their diploma, says the American Bankers Association. ABA has highlighted six traps new college graduates should avoid to position themselves for financial success as they transition from the dorm room to the office.
 “Student loans, housing costs and plenty of other living expenses come fast and furious after graduation, so it’s extremely important to start off on the right track with positive financial habits,” said Corey Carlisle, executive director of the ABA Foundation. “We can’t stress enough how vital it is to plan for the future.”
According to ABA, new college graduates should avoid the following financial traps:
For more tips and resources on a variety of personal finance topics such as mortgages, credit cards, protecting your identity and saving for college, visit
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