Charlottesville, VA (CVILLE RIGHT NOW) – As college graduations wrap up across the country, CBS business analyst Jill Schlesinger offered timely financial advice for new graduates. Speaking on Morning News Schlesinger emphasized the importance of tracking spending as the foundation for financial health. “Just track where your money goes,” she said at. “Once you have your arms around this, you can then tackle almost any financial goal.” 

Schlesinger also addressed the looming reality of student loans. While many borrowers rely on grace periods, she warned against waiting. “Don’t wait. Do it right now,” she said, urging grads to understand their repayment terms and explore income-driven repayment plans if necessary. She pointed listeners to studentaid.gov as a critical resource for managing loans and avoiding default, which can harm credit scores. 

The conversation shifted to the broader issue of higher education costs, a concern shared by both economists and families. “There are too many parents who are kind of enabling their kids in some ways be either going into debt with for the kids. But the parents are also doing it,” Schlesinger noted. She urged families to have honest conversations early, emphasizing that while a degree is valuable, “going into debt up to your eyeballs… that is when it’s not worth it.” 

Listen to the full conversation here: