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May 13, 2013
Congrats grads! Now about those loans
The clock on student loans begins counting down at graduation. Both federal and private loans give borrowers a six-month grace period before payments are due.
By ALEX VEIGA
AP Business Writer
iStock photo
Average student loan debt rose 30 percent between 2007 and last year to $23,829. If you can’t find a job and have federal student loans, you can temporarily postpone payments by asking for a deferment or forbearance.
Finding a job in a slow-growing economy is daunting enough without new financial obligations.
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