3 Important Lessons Student Loans Can Teach Us About Job Searching

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The mere mention of student loans makes most people cringe inwardly. Seventy-seven percent of Canadian graduates over the age of 40 have regrets about college debt, according to a poll by debt firm PBD Canada, per Global News. Sixty-two percent of those who graduated with debt are still paying off their loans.

Although student loans are burdensome, they can teach us vital life lessons, especially about job searching. In fact, the most important things you need to know about job searching, your student loans have probably already taught you.

3 Things Your Student Loans Can Teach You About Job Searching

Here are a few things your students loans can teach you about how to effectively job hunt:

1. Be patient — Paying off student loans will test your patience. So will job searching. While finding the right job doesn’t take nearly as long as paying off student debt, it often takes longer than most people are comfortable with — about a month for every $10,000 you want to earn. (So if you need $50,000 a year, you are looking at a 5-month job search at minimum.) Draw on the patience paying off student debt has instilled in you when you find yourself on the market for a new job.

2. Speed things up by using the right strategies — As you probably already know, if you want to pay off your student loans more quickly, you can. This takes dedication and self-restraint, but it’s entirely possible. Many people take on a second (or third) job to pay off student debt more quickly. They speed up the debt payoff process by implementing common-sense strategies for earning and/or freeing up more money and then throwing it at their debt.

Just as you need a strategy for hastening the process of paying off your student loans, you also need a strategy for speeding up your job search. A contributor to Recruiter.com wrote,

“When it comes to getting hired, look for ways to kick your job search into overdrive. Turn the hunt into your new full-time job, hone your interviewing skills, and put yourself out there by attending networking events and industry conferences. Although you can’t expect to reach your destination right away, you can pick up your pace to get there.”

3. Make a plan — You don’t pay off student loans haphazardly. Most people have a detailed plan in place that helps them reach their goals. They know what day they will make a student loan payment each month and when their debt will be satisfied in full. They also stay updated about how close they are to reaching their financial goals in this area.

Similarly, job searching should not happen on a wing and a prayer. It should be thoughtfully planned, and the plan should be carried through with intention. For example, plan out how many hours each week you’ll spend searching for jobs, working on your resume, interviewing, and preparing for interviews. Write down your plan and then follow it to the letter to get the results you want.

What Has Student Debt Taught You About Finding a Job?

If you have student debt and have been in the workforce for at least a few years, you know the ins and outs of paying off student loans, and you also know a thing or two about job searching. Have your student loans taught you any lessons about how to find a job? If so, what are they?

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