High School Seniors & Student Loans
The Credit Union National Association found that around 70% of students are confident they will receive a high-paying job upon graduating. Of the students polled, 83% did not know the rates or the duration of their expected or existing student loan. These results are troubling to some who worry that students will be challenged in managing basic expenses in a consistent responsible manner as they enter adulthood.
Many students rely on their parents to arrange college financing, though it is still important that the students have some basic understanding of the loan debt they are taking on. The Credit Union National Association is now lobbying the government to allow 15 years to pay back student loans. To allow smaller payments when the borrower’s careers are just beginning, then larger ones when they are better able to manage their debt.
Sun Center FCU is now in partnership with Sallie Mae Smart Options Student Loans® encouraging students to borrow responsibly! “Smart Options” allows a choice of competitive fixed and variable interest rates, no origination fees or repayment penalties and you can borrow up to 100% of school certified education costs. For more information visit www.suncenterfcu.com and click the yellow Smart Student Loan Option® box on the lower right hand side of the homepage to get started!
Cited:”Survey: 50% Of High School Seniors Don’t Know Student Loan Costs .” CUNA News Now. (2013): Web.
