Having trouble making payments for students loans? You have opti - WGEM.com: Quincy News, Weather, Sports, and Radio

Having trouble making payments for students loans? You have options

Posted:
QUINCY, Ill. (WGEM) -

It's that time of year again for recent college graduates to start having to repay student loans.

In particular are students who just graduated in December. 

Quincy University Financial Aid Counselor Kristen Johnson says payments kick in six months after graduation. For many students still looking for a job, making those payments could be difficult.

But before you start taking out another loan to pay off your student loan, talk with your loan company first.

"There are different payment plans such as income contingent, income based, there's just different types of payment plans," Johnson said. Or you can go with a standard. Or there's a graduated re-payment plan where the payments might be lower now but in 10 years from now they could be higher."

Johnson says you can also ask to defer your loan, which could give you as much as three years extra time to pay it off.

Powered by WorldNow
All content © Copyright 2000 - 2014 WorldNow and WGEM. All Rights Reserved.
For more information on this site, please read our Privacy Policy and Terms of Service and Mobile Privacy Policy & Terms of Service.

Persons with disabilities who need assistance with issues relating to the content of this station's public inspection file should contact Administrative Assistant Donna Vancil at 217-228-6617. Questions or concerns relating to the accessibility of the FCC's online public file system should be directed to the FCC at 888-225-5322, at 888-835-5322 (TTY) or at fccinfo@fcc.gov.