Friday, July 22, 2016

Student Loans and You

Did you Know?

A great potential way to pay off student loans is by working on the Hill, as in Capitol Hill in Washington, DC. Many offices in a committee or with a member of the House or Senate, provide monthly payments to student loan companies on your behalf as a benefit to working there. This would be in your contract from the time of hire. This amount varies by office and can change each year depending on the budget. This can start right away as a benefit or begin after a specified time period. The amount per month can range from $200-$500. Keep in mind this counts as income and is taxed! These student loans payments are a great negotiating tool when beginning your position. Even if this is more than you are required to pay each month, it’s a great way to pay down the principal balance. Another point to note is many entry-level positions often pay very little considering the cost of living in DC so be careful of racking up other kinds of debt.

It can be difficult to get one of these coveted positions, but there are a few ways to make it easier. An internship can really help you get a foot in the door. This is your chance to shine and prove yourself in the workplace. Networking is also crucial in the Washington, DC job world. If you land an internship, stay in touch with everyone…and I mean everyone! You never know where your fellow interns or colleagues may end up, so make sure to keep a professional and continuous rapport with all office staff.

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