Expert Advice On Student Loan Repayment

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Expert Advice On Student Loan Repayment (NAPSA)}Hereare twobits of good news for recent and soon-tobe college graduates with student loans: 1. You probably have a sixmonth grace period after graduation before you haveto start making payments. 2. While adding a new payment of any kind into yourlife can be daunting, the vast majority of Americans with student loans do successfully pay them off, due, in part, to the value of their college a oe = —=— education. These student loan repayment Once you graduate from college, tips can help you be among them: you may have a few months Contact your servicer. before you haveto start repaying Some students have more than one loan, so it’s best to contact each servicer to discuss your payment options. The servicer can your student loans. Put together a snapshotofall your financial obligations, includalso help identify alternatives if ing your credit cards, car loan, you're experiencingdifficulty. student loans and rent. ments every month. Options to postpone payments typically mean $1,000 to be prepared for car Pay yourself. Build an emerPay every month, and pay extra when you can. Make pay- gency savings fund of $500 to expenses, an emergency trip or you'll pay moreover thelife of the life's other unexpected expenses. to reduce your interest costs and matic payments not only make sure you never miss a payment, raise or bonus toward your stu- the nation’s No. 1 financial ser- loan, so tackle your payments now. Whenever you can, pay extra pay off faster. Put money from a dent loans. Create a budget. Know how much is due every month and create a budget that’s in syne with the amount due. Get the big pic- ture when creating your budget. Sign up for auto-pay. Auto- but servicers such as Sallie Mae, vices company specializing in education, may reduce your interest, rate if you pay by automatic debit. It’s peace of mind with a bonus. eLearn more. Go to www. SallieMae.com.