Are you Struggling to make your Student Loan Payment?
Paying off your Student Loans shouldn't put you in financial distress.
Life doesn’t always go as planned. When you first signed up to receive financial aid or agreed to the terms of a student loan, you were predicting what your financial situation would be like after graduation. And for many graduates… things are very different now.
The good news is that the federal government already has nine different repayment programs that provide various options on how to repay your student loans. Payment amounts can vary widely depending on the program, with some allowing significant student loan debt to be forgiven altogether.
Depending on your income, you can even have an allowable monthly payment of $0 (that's right, nothing), and the loan will be reported to the credit agencies as being in good standing."
The Student Loan Pros Process
The following steps will help you manage your student loans.
1 - Analysis
We analyze your loans and finances to provide you with all available payment and discharge options under current federal law.
2 - Decision
We help explain the pros and cons of each repayment option so you can make an informed decision.
3 - Application
We provide a repayment plan and/or consolidation application. You sign and mail the completed application forms after we've prepared them for you.
Don't let Debt Destroy Your Dreams
Find out if you qualify for a student loan management program.
With decades of experience helping our clients navigate life’s most difficult financial situations, our team is uniquely suited to evaluate your financial profile and determine your eligibility for specific programs. We:
- Prepare the formal application
- Oversee the transition to the new loan program
- Prepare the forms you need to submit every year to stay in the program you select.
Our Mission & Promise
Student Loan Management Programs
After a thorough analysis of your student loan records, financial profile, and income, our company can determine your eligibility for each of the nine federally approved student loan repayment programs. Programs differ in how they forgive, restructure, or consolidate your debt.
The report also provides our experienced pros with the background information necessary to advise you on the best course of action to ensure you maintain a healthy financial profile.
Resolution Programs Based on Qualifications
Affordable Repayments
Reduce your monthly payments based on income, not how much you owe, so your payment will always be affordable.
Default Resolution
Consolidate your defaulted loans into a new federal student loan and cure any existing defaults.
Loan Forgiveness
Determine if you qualify to have the federal government forgive part, or all, of your federal student loans.
Consolidate Your Payment
Consolidate all of your federal student loans into a single loan with one easy payment to a sole loan servicer.
Frequently Asked Questions
How do I get started?
The first and most important step is to request an analysis of your student loan debt with one of our experienced pros. After the analysis is complete, you will be provided with your options based on the qualification factors required by the Federal Government and Department of Education.
Student Loan Myths
TRUTH: Student loan consolidation for your federal student loans won't lower your interest rate. When you consolidate federal student loans with a Direct Consolidation Loan, the resulting interest rate is equal to a weighted average of the interest rates of your existing federal student loans, rounded up to the nearest 1/8%.
TRUTH: Not exactly. Student loan forgiveness is only available for federal student loans. To receive student loan forgiveness, you need to enroll in an income-driven repayment plan such as PAYE or REPAYE.
TRUTH: If you think you may face financial hardship in the near-term, contact your student loan servicer immediately. You can't just skip a payment. The sooner you evaluate your student loan repayment options, the better.
TRUTH: If you defer payments you are typically not deferring the interest, so the problem will only keep growing. It is better to get into an income-driven repayment plan with a payment you can afford.
TRUTH: If you are currently in an income-driven repayment program, you will lose credit for the time you’ve already made payments if you consolidate and start one again.
TRUTH: While some people use the strategy of never stopping school to put off loan repayment, unless your loans are Direct subsidized, they accrue interest as soon as you borrow, including while you are in school.
TRUTH: Student loan servicers report your payments (or lack of payments) just like credit card, mortgage and car loan companies. If you miss payments, they will likely be reported and hurt your score.
TRUTH: While not impossible, it is extremely unlikely. Under the current law, you need to prove that you have made payments in the past, that you are unable to make a reasonable payment now, and that you will also not be able to in the future. Only a few dozen people per year can qualify for that in the entire country.
TRUTH: Consolidation is the process of combining multiple loans into one, and is done frequently with federal student loans. This can make it easier to make payments through fewer servicers, or get into an income-driven repayment program. Refinancing a loan typically means borrowing from a private lender like a bank, and then your repayment options are much more limited.
Don't let Debt Destroy Your Dreams
Find out if you qualify for a student loan management program.