If you've recently graduated and skated through the summer without too much thought about your student loan debt, the jig is up.
Seven in 10 seniors graduate with debt, owing over $34,000, on average, according to a recent report by Experian.
However, the majority of borrowers, 56 percent, don't know the interest rate on their student loans and 59 percent said they didn't know the repayment term, according to a separate report by Millennial Personal Finance.
Only 14 percent of students were confident they could repay their college debt at all, Millennial Personal Finance said.
On the upside, for federal loans at least, which make up the bulk of student debt, there is generally a six-month grace period after graduation that gives borrowers time to get on their feet before they have to start repaying their loans. That time is now up.
"It's like running around trying to do your taxes in April," said Andrew Josuweit, CEO and president of Student Loan Hero, a student-loan management site. "We're all procrastinators, the same thing applies here."
For graduates uncertain about what happens next, here's what to know: