The first thing we're going to do with the text layer is move it.
Go back to the toolbox, and find the Move tool. It's a pair of
crossed arrows, one vertical, one horizontal; it's probably right
above the T of the text tool, and its tooltip says "Move Layers &
Selections". Click it.
Now move your mouse back into the image, move the mouse slowly toward
the text, and watch the cursor carefully. In most of the image, the
cursor should look like a pointing hand, but as you move over the new
text, the cursor should change to the crossed arrows of the Move tool.
It's good to get in the habit of watching the mouse cursor as you move
in the image: a lot of gimp's tools will change the cursor like this
to give you clues about what you can do.
Once you're over the image, and seeing a Move cursor, hold the left
button down and drag the text layer to exactly where you want it
in the image. The beauty of layers is that if you change your mind,
you will be able to move the layer again at any time.
Tip: When you want to move a specific layer, first make sure that
layer is selected in the Layers dialog. That way, you can watch the
mouse cursor to make sure you're moving the right layer. You *can*
click on another layer, and gimp will switch to that layer and start
moving it instead, but when you have several layers built up, that
can get confusing. If you do move the wrong layer, though, "Undo"
works to undo a layer move.