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“For young people early in their career, unemployment can be particularly harsh,” said Michele Evermore, a senior fellow at the National Academy of Social Insurance, a nonprofit that focuses on the country’s safety net. “They have had less time to pull together a reasonable amount of emergency savings and are far more likely to carry college debt.”
Staying on parents’ health plan is ‘least costly’ option
Many college graduates have some time before they need to figure out their own health insurance coverage. Young adults can typically stay on a parent’s private plan until age 26, said Joel Cantor, a professor at Rutgers University and the founding director of the Center for State Health Policy. Some states even allow dependents to stay on longer than that.
“This will commonly be the least costly option,” Cantor said.
But not all recent graduates will have this option. Medicare, for example, doesn’t allow coverage of dependents, and so if your parents are insured under the program, you’ll need to find your own insurance, Cantor said.
For young people early in their career, unemployment can be particularly harsh.
Michele Evermore
a senior fellow at the National Academy of Social Insurance
“Students who have low incomes may be eligible for Medicaid,” Cantor said, “which is comprehensive coverage and typically has no premium.”
Students without other options can also look for coverage on the Affordable Care Act marketplace. “Depending on their income, they may be eligible [for] subsidies,” Cantor said.
Keep in mind: Most college health insurance plans end at graduation or shortly after the semester ends, said Lisa Bercu, the senior director of health policy at the National Consumers League, an advocacy group.
“Some colleges provide coverage for 30 to 90 days after graduation as a temporary bridge, but they’re not substitutes for long-term coverage,” Bercu said.
Unemployment benefits may not be an option
To be eligible for state unemployment benefits, you usually need to have four quarters of earnings behind you — a requirement that many new college graduates, of course, won’t meet, Evermore said. Still, she said, “I always tell people that regardless of whether they think they qualify, they should check with their state unemployment agency to be sure.”
Some new graduates will have a work history, Evermore said. In fact, about 40% of full-time undergraduate students work, with 10% working full time, said higher education expert Mark Kantrowitz.
“People don’t necessarily have to have worked full time to qualify,” Evermore said. “They just have to hit an earnings qualification, which is generally not very high.”
Unfortunately, any work study as part of your financial aid package doesn’t count as qualifying earnings, she added.
Look into state job placement services
Even if you don’t qualify for jobless benefits, you might still be able to access your state’s job placement assistance services, Evermore said.
“It’s actually how I got my first temp job right out of college,” she said.
While you’re trying to land a job in your preferred field, it’s a good idea to accept some form of employment even if it’s a different industry, said Carolyn McClanahan, a certified financial planner and founder of Life Planning Partners in Jacksonville, Florida.
“You are getting some money in the door,” said McClanahan, who is a member of CNBC’s Financial Advisor Council. Plus, she said, “it’s easier to get a job when you have a job because employers don’t like to see a long unemployment history, and it shows you are motivated.”
Food benefits may be available
It’s worth checking to see if you qualify for benefits under the Supplemental Nutrition Assistance Program, or SNAP, said Dottie Rosenbaum, senior fellow and director of federal SNAP policy at the Center on Budget and Policy Priorities, a left-leaning think tank.
“Most recent graduates with no income can qualify for a little under $300 a month in SNAP if they live alone or live with others but buy and prepare food separately,” Rosenbaum said.
However, most young people will only qualify for three months of benefits if they aren’t working at least part time or exempt because of a physical condition, she added.
If you live with your parents, you’ll need to apply for the benefits as a household — and your parents’ income will count, “unless, again, they buy and prepare food separately,” Rosenbaum said.
Mind the student loan grace period
In most cases, you likely won’t have to make your first student loan payment until six months after you graduate, thanks to the federal government’s grace period, Kantrowitz said. Those with federal Perkins Loans can get up to nine months, he added.
If your loans are subsidized, the government will pay the interest on your loans during that period, Kantrowitz said. Meanwhile, interest will accrue on unsubsidized loans.
The federal government has many options for borrowers who, come that time, are worried about affording their bills. Its income-driven repayment, or IDR, plans cap your monthly payment at a share of your discretionary income and culminate in student loan forgiveness. Some borrowers can wind up with a $0 or $10 monthly payment and will begin their progress toward loan cancellation.
Borrowers who need to prolong their grace period can request deferments and forbearances, including ones for those who are unemployed — but interest may continue to accrue. In the first quarter of 2026, 160,000 student loan borrowers were enrolled in the unemployment deferment, according to Kantrowitz.
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