|
|
FOR IMMEDIATE RELEASE |
|
State
Rep. Jaret Gibbons
|
|
Gibbons urges graduates to prepare for student loan payments
HARRISBURG, May 29 – State Rep. Jaret Gibbons, D-Lawrence/Beaver/Butler, is congratulating the graduates of Slippery Rock University and the other colleges and universities in Pennsylvania and urging them to begin preparing to repay their federal student loans.
"As these students begin a new chapter in their lives and the search for a job, I encourage them to remember that their first student loan payment will typically be due in about six months," Gibbons said. "Now is an important time to begin planning ahead so the first payment is not late."
Gibbons said recent graduates can take a few simple steps to ensure they are ready. For example, students should consider contacting their lender to identify the best repayment option for their situation, know the exact day the first loan payment is due and consider enrolling in an automated debit program to guarantee the first payment and future payments will not be late.
"As students begin their careers, it will be important for them to maintain a good credit rating and making payments on time is critical," Gibbons said. "Students may also want to limit their credit card usage and create a monthly budget to avoid overspending.
"Most importantly, if a recent graduate knows he or she is not going to be able to make a student loan payment, they should contact the lender right away to work out a solution and make monthly payments more manageable."
Federal student loan payments typically begin six months after students graduate or their enrollment status drops below half-time. For more information about establishing a good credit rating, managing student loan payments and budget checklists, students can visit the award-winning Web site YouCanDealWithIt.com
###kph/2009/bfg
l:'print'releases' studentloans.010
|
|