With graduation approaching, out going seniors will soon be faced with paying back student loans.
Robert Zellers, director of scholarships and financial aid, said while in school, students need to be aware of money. Students don't have to pay interest, he said, and they are encouraged to keep track of the debt they accumulate.
After graduation students have several repayment options available. Zellers said the most common are the standard pay back option and the extended pay back option. He said seniors are given a lot of information before they graduate about their options to pay back their loans.
Zellers said the Office of Financial Aid also helps with is consolidation, which makes paying back multiple loans easier.
Zellers also said that credit card debit cannot be included in the loan consolidation.
"Credit card debt makes repayment of student loans more difficult," Zellers said. "Students should try to avoid it, but they must talk to the credit card companies to fix it."
The simplest way to avoid debt is to plan ahead. If that is not possible the Office of Financial Aid has many options available for students. However, Zellers said students should not wait to get assistance.
"Fundamentally, once you're out of school there's not much we can do for you," Zellers said.
To help with his finances, Kyle Watson, a senior Sports Administration major, will spend the summer and next fall in an internship.
"I have a job right now so I can have money after I graduate. I have worked to get an internship that has the possibility of getting paid. I am just trying to get money to pay off my loans."
Watson said he has a scholarship and a loan to help finance his education, but still has bills left over. He said his parents have helped him out a lot and that the extra help has allowed him to focus more on school.
Watson said his classes this year are allowing him to prepare for after graduation.
"I am taking Finance 110 right now, and it is really helpful," he said. "I would suggest it over other finance classes because it really goes in depth."
Adam Rice, a senior general studies major, will be pursuing his Masters Degree in the fall. He said he's going to work two jobs this summer to help pay for graduate school.
Rice said he depends on student loans and parental support to help pay for his education.
"I worry about my parents more than myself; they are really helping me out. I have a part time job to pay for the small stuff, but they are paying for the big stuff," Rice said.
Rice said he wants to get his loans paid off in a decent amount of time and get to work.
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