IN Upper St. Clair Fall 2019 | Page 40

TH B I RTH DAY ! 0 5 Y P P HA 2019 2020 Sea Tick s e on START ts AT $50 Unlike the loans mentioned above that are sponsored by the federal government, state and private loans are sponsored by banks, colleges, foundations, and state agencies. The U.S. Department of Education manages all college loans available by state and requires students to be in-state residents or enrolled in a college in that state. Private loans are an option for borrowers but come with terms and conditions that may not be as favorable as federal loans. Private loans also require a cosigner who is responsible for repaying the money if the student fails to do so. MANAGING DEBT POST-COLLEGE SEASON GROUPS TICKETS 412-456-1390 10+ TICKETS 412-471-6930 TRUS TARTS. ORG /KIDS Get your business noticed in all the best locations... YOUR CUSTOMER’S HOME! We can guarantee you the best placement available—right in your customer’s home. Find out how any of our 34 direct-mailed, community-sponsored, quarterly magazines can grow your business. Contact us at 724.942.0940 38 724.942.0940 TO ADVERTISE ❘ icmags.com Student loan debt continues to increase and has become a burden on both graduates and the U.S. economy. There are a variety of loan repayment options for students. Here are some tips on how to approach repayment. • Figure out what you’ll owe and start to save early – Creating a budget early will allow you to build a solid foundation for repayment after graduation. Setting aside money each month toward future savings for repayment will set you up for success come graduation day. • Understand your repayment options – There are several different options available to start paying off student loans based on the type of loan you received. Common federal loan plans include standard, graduated, extended, or income-based. Standard plans are payments in fixed amounts that ensure