Happy graduation szn to all our college girlies out there! 🎓 Def take your time to celebrate (because you freakin’ did the thing), but when you’re ready, we’re here to talk about those pesky student loans. We chatted with Alyssa Schaefer (she/her), general manager + chief experience officer of digital banking platform Laurel Road, to give you the top tips on what to do when it’s time to start paying them back.

If you start to sweat even thinking about student loans, Alyssa says: “It’s important to note that there is no one-size-fits-all approach when it comes to managing student loans, and there are more options now than ever before. To prepare for a potential end to the ongoing student loan forbearance, you may want to consult with an expert to better understand what your options are regarding loan forgiveness, refinancing, and repayment like. I suggest GradFin, one of the nation’s leading student loan consultation providers.”

Keep reading for more student loan advice as the school year comes to an end.

Millions of student loan borrowers could find out in the next few months if they’ll be a part of Biden’s debt relief. So, what should we keep in mind when it comes to paying off the loans we have rn?

1. Make a plan and do your due diligence. Everyone’s financial situation is different, and when the student loan holiday ends, an important first step will be for borrowers to review their debt, and to make sure they have a clear understanding of their loans and what they owe. Doing your research will ensure you’re educated about your options so you can make the best decision for your unique financial situation. Student loan experts can help you make an informed decision when it comes to navigating your perfect repayment plan. Understanding your student loan(s), as well as which repayment options you may be eligible for can be cumbersome.

2. Create a 50/30/20 budget. This is one of the most easy-to-follow budgeting strategies. This breaks down your monthly take-home pay by needs, wants, and savings. Your necessities, like housing, food, and the minimum payment due on your debts, get the biggest chunk with 50% of your pay. The next 30% is for those things you want but don’t necessarily need (ex: vacation, new TV, etc.), and the remaining 20% should be allocated to savings. Through doing this you’ll not only be prepared once payments on your student loans resume, but will build a stronger financial foundation to help you reach additional goals down the road.

3. Build your savings. This could look like setting up automatic payments towards your current student loans, or if you have federal loans that are on pause, setting up automatic recurring transfers to your savings account to use towards future payments. Essentially, set it and forget it. Even if it’s not the full monthly payment amount, you will set yourself up financially for the future and will have additional money to contribute. Just like budgeting and saving, if you allocate a few hundred dollars to your student loans now, you will be well prepared for when the student loan holiday ends.

Speaking of savings, you should also consider allocating as much savings as possible into a high-yield savings account. Having one enables you to get the maximum return on your savings goals by accruing more than a typical savings account. If you have the option to start contributing to this cushion, it will set you on a stronger financial path.