Sixty percent of former college students who are currently repaying student loans are concerned their student loan repayments will cause them to work extra jobs to make ends meet, according to a survey commissioned by Discover Student Loans.
This year's survey examined perceptions about repaying student loans and the impact of repayment on finances and lifestyle choices.
Students and parents claim to understand the student loan repayment process.
"It's never too early for families to start discussing how best to finance a college education. It's important for both students and parents to be on the same page and start thinking about and budgeting for things like student loan payments early on in the process," said Nicole Straub, vice president for Discover Student Loans.
Getting a job is top priority.
"Graduation brings responsibilities such as finding a job and repaying student loans. As graduates prepare to go out on their own, they should take time to review their personal finances and prepare a monthly budget that will accommodate not only rent, food and having fun but a potential student loan payment," Straub said.
The Discover Student Loans national online survey of 2,015 students, former students and parents in the U.S. was conducted between April 26 -- May 7, 2018.