The student loan debt burden in the United States has reached a debt equal to the National debt on credit cards. That number is just under one trillion dollars. As a credit counselor I speak to people every day who are saddled with student loan debt amounts of greater than one hundred thousand dollars.
Consider that your purchasing power and mine has dropped by four thousand dollars in the last four years, and is it any wonder that consumers once again are defaulting on not only credit cards but their student loans as well.
Defaulting on a student loan has far greater negative ramifications than does not paying on credit cards.
You cannot file Bankruptcy to eliminate a student loan.
So what to do, if you have used up your deferments or simply are unable to handle the monthly payment any longer?
You need to take action, and not ignore this problem.
Here Are The Benefits Of Taking Action:
One Payment instead of
multiple payments.
Lower Payment--Income Based Payment Plans Assure An
Affordable Payment.
Get out of Default.
Much Lower Interest Rates.
Existing Defaulted Loans Are Paid Off--Positively
Effecting Credit Scores.
Restores Federal Privileges
Restores Eligibility To Place Loans Back Into
Deferment.
Here Are Some Options You May Qualify For:
STANDARD
REPAYMENT:
This repayment plan saves the client money over time because the monthly
payments may be slightly higher than payments made under other plans, but
client will pay off the student loan in the shortest time
Graduated
Repayment Plan:
If client’s
income is low now, but client expects it to increase steadily over time, this
plan may be right for them
Income Based Repayment (IBR Plan:
To
qualify for IBR, the client must have a partial financial hardship. Under this
plan, the monthly payments are based on income and family size.
I(ICR) Plan: This repayment plan is similar to the IBR; requirements and guidelines are the same,
PUBLIC SERVICE Forgiveness Program:Under this program, borrowers may qualify for forgiveness of the remaining balance due on their eligible federal student loans (Direct Loans) after they have made 120 payments under the IBR, or ICR plan.
So please, if you are struggling with your federal student loan debt, you really need to take action., because taking action is simple, and there is no fee to find out which student loan debt relief program you qualify for.
Simply visit us by clicking consolidate my student loans where you can download a simple application to get the process going at no charge and no obligation, just like all of our free counseling for credit and debt problems. After we receive your application a counselor will call you and speak with you.
Yours Truly
Steven Ciantro
Consumer Advocate
American Debt Enders
Certified Credit Counselor
TalkShoe Radio Host
Member National Association of Certified Credit Counselors
Debt Expert for Gail Kasper's Top 1% Club
Gail
Kasper's Top 1% Club
Linkedin Profile
877-766-2465
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