Student Loan Six-month Grace Period Expiring
Graduates are encouraged to consider repayment options.
Harrisburg, PA (Vocus/PRWEB ) November 16, 2007 -- The student loan six-month grace period that many spring college graduates have taken advantage of will soon expire and now is the time to consider student loan repayment options.
Traditionally, after a borrower graduates a six-month grace period is given until he or she must begin repayment on his/her student loans. AES wants to remind college graduates of their repayment choices and offer simple online solutions for easy repayment, like the online repayment calculator and checklist.
“This is the time when many college graduates are finally settled into their careers and might not be thinking about their pending student loan repayments, but with the grace period ending they need to look into repayment options now,” said James Preston, Interim AES President and CEO. “AES offers several repayment options that meet the individual needs of borrowers and, by helping them establish a responsible payment plan, we are helping them build future financial responsibility and maintain a healthy credit rating.”
Borrowers are encouraged to take advantage of free online resources like YouCanDealWithIt.com, which offers college graduates and soon-to-be graduates helpful information on financial planning and budgeting, managing student loan debt, and establishing good credit habits.
“Our goal is to eliminate any chance of default that could potentially harm the borrower’s credit history,” said Preston. “Making smart financial decisions now, will help ensure success for their future.”
AES offers these additional tips to graduates during their repayment period:
- Avoid credit card debt and their high interest rates.
- Set a reasonable budget and stick to it.
- Make payments on time.
- Enroll in an automatic debit program. Most borrowers can save an additional .25% interest rate when their loan payment is automatically debited from a savings or checking account.
- Make payments online; borrowers are encouraged to manage their student loan on the secure borrower portal found on aessuccess.org.
- Take advantage of Student Loan Rebates program, by purchasing items through participating companies, a percentage of rebates can be used toward paying down a borrowers’ student loan debt. (StudentLoanRebates.com)
For more information regarding repayment options and helpful tips please visit www.aesSuccess.org.
American Education Services
American Education Services (AES) is among the nation’s leading providers of student financial aid services. Each year, AES serves millions of students and thousands of schools through its loan guaranty, servicing, and financial aid processing systems. As a nonprofit enterprise with $94 billion in assets under management (1/31/07), AES channels its earnings into a wide array of public service programs and initiatives that help ease the financial burden of higher education.
Focused on guaranteeing the next generation of leaders, thinkers and doers, AES is a pioneer of pro-student products and services, such as its Zero Guaranty Fee Policy and low-cost student loans. From early awareness, to managing the financial aid process and sound student debt management, AES is a trusted source of information and advice for students, parents, school counselors and financial aid offices across the country. AES is also the home of the award-winning college-planning website EducationPlanner.org, as well the debt management resource YouCanDealWithIt.com. For more information, please visit us at www.aesSuccess.org.
Contact:
Keith New
717-720-2509
knew@aessuccess.org
Carey Miller
717-720-2509
cmiller1@aessuccess.org
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