I recall during the recession a lot of my Bankruptcy clients were Grandparents who co-signed for their Grandchildren’s student loans.  They were saddled with a large monthly payment and on a fixed income. Something had to ‘give’ in their budget and using credit cards for living expenses to make ends meet was their only option. Research all you can and explore various tools to assist you before student loan payments become due. Education is key. AARP offers a free webinar series on “Savi 101”-Student Loan Basics.