Credit Counselling Canada

Credit Counselling Canada

September 23, 2005 12:58 ET

Credit Counselling Canada: Managing Your Student Loan-Start Now

CALGARY, ALBERTA--(CCNMatthews - Sept. 23, 2005) - For post-secondary students who left school in the spring, It is time to start paying back those student loans. While loans provide much-needed assistance during school, new graduates are quickly hit with reality when repayments start six months after leaving school.

Budgeting for loan payments can be difficult when you are just starting out in a career. For some, it is impossible to keep up. Credit Counselling Canada and its non-profit members offer budgeting and money management tips, as well as provide confidential counselling, debt management and education programs to consumers. Here are a few tips for managing your student loan:

- Remember that student loan payments start six months after leaving school so if you are not enrolled in school this semester you may be required to start paying back your loan, make sure you factor this in to your budget.

- Keep in touch with your lender if your situation changes. Your credit rating will be affected if you don't keep on top of things.

- Remember that some student loans consist of federal and provincial funding and each will need to be repaid separately.

Visit your local Credit Counselling Canada member for advice or assistant with your student loan. For more information, go to www.creditcounsellingcanada.ca.



PUBLIC SERVICE ANNOUNCEMENT:
Air Dates: Sept. 23 - Oct. 10
Length: 60 seconds


Managing Your Student Loan

Many post-secondary students rely on student loans to help finance their education.

While loans provide much-needed assistance during school, new graduates are quickly hit with reality when repayments start six months after graduation.

Budgeting for loan payments can be difficult when you are just starting out in a career. For some, it is impossible to keep up. Credit Counselling Canada and its non-profit members offer budgeting and money management tips, as well as provide confidential counselling, debt management and education programs to consumers. Here are a few tips for managing your student loan:

- Keep copies of everything and make sure you understand the details of your loan. If you don't know, ask your bank for help.

- Plan ahead for repayment, and if possible, put a little money aside each month.

- Keep in touch with your lender if your situation changes. Your credit rating will be affected if you don't keep on top of things.

- If you need help, apply to one of the student loan relief programs available.

Visit your local Credit Counselling Canada member for advice or assistant with your student loan. For more information, go to www.creditcounsellingcanada.ca.

Contact Information

  • Credit Counselling Canada
    Scott Hannah
    British Columbia
    (604) 527-8999 (ext. 211)
    or
    Credit Counselling Canada
    Diane Rennie
    Prairies
    (403) 234-6184
    or
    Credit Counselling Canada
    Laurie Campbell
    Central Canada
    (416) 228-3328 (ext. 208)
    or
    Credit Counselling Canada
    John Eisner
    Atlantic Canada
    (506) 633-3990
    Website: www.creditcounsellingcanada.ca