After commencement ceremonies, graduates often have goals to accomplish and dreams to fulfill.

And according to Kaplan Inc. Vice President Trent Anderson, these goals and dreams often include impulse buying of cars and luxurious vacations that are not necessary and only create more debt.

He said although paying off student loans should be a priority, that’s not how it works out in most cases.

Kaplan Inc. provides educational resources for schools and individual students.

“After graduation, many students go out and buy a brand new car,” Anderson said. “As an impulse, they don’t consider that there are many other expenses that go along with it.”

Anderson said the time to start paying back loans creeps up faster than graduates think it will and often creates the most problems when that first payment is due.

He said there are many ways to begin the somewhat trying process of handing over hard-earned money. But he stresses the importance of doing it correctly because bad credit can haunt you forever.

Anderson said students should set up automatic payments, so paying is not a choice.

“There is nothing you can do about it,” Anderson said. “You have to pay for it now and make sure there is money in the account.”

Pam Szidner is an information specialist for the United States Department of Education, the government organization that is responsible for processing the Free Application for Federal Student Aid. The form is one of the more popular ways for students to apply for financial aid.

Szidner said there are four payment plans offered to students. Students are then given six months from graduation, or the time they drop below full-time credit status, to begin repayment.

“That may leave enough time for a vacation,” Szidner said. “But I definitely would not go out and spend all my money.”

The payment plans Szidner said are offered include the standardized plan, which is the shortest repayment period and also offers the lowest interest rate. This requires the borrower to pay a fixed amount that is at least $50 per month for up to 10 years.

There is also a plan that offers an extended period of time to pay off the loan as well as one that offers lower payments in the initial periods of repayment, with the amount of each installment gradually increasing as time goes on.

Szidner said the step-by-step increase could be ideal for recent graduates who may start off without a large income, but will make more and more each year.

The last plan offered is one that is income-sensitive and interest levels are based on how much income a person has.

Recent MSU graduate Natalie Surma said her loans are not something she had thought about until now, and she knows the six month grace period will go quickly.

She said she knows she will wait the full six months, not because she is putting it off, but because she wants to save some money so she will be more prepared to make the first payment.

“I probably should have thought about it sooner,” Surma said. “But I don’t really think it would have helped all that much because I had a ton of other things to pay for and worry about.

“It will be nice to catch my breath for a few weeks and then I can figure what I need to do from here.”