It can be extremely stressful to be saddled with thousands of dollars in student loans. When you are no longer in school, the government expects you to pay the money back with interest. Being out of school for a while and struggling to find a job can really add to the stress level. Add in the expenses of living like rent, utilities, car payment, car insurance, cell phone, credit cards and food and there really isn’t much left. Taking on extra jobs and juggling your bills doesn’t relieve the problem. Instead, you might want to consider federal student loan repayment counseling.
What Does Federal Student Loan Repayment Counseling Do?
First and foremost, federal student loan repayment counseling looks at the amount of federal student loan debt you have, the field of study you were in and your current financial situation. While that may be the basics, those are not the only things. Federal student loan repayment counseling can help you figure out the best move for you. There are several federal student loan repayment options available and it isn’t one size fits all.
The paperwork involved can be intimidating. You want an expert to assist you in applying for the proper repayment plan. With the appropriate guidance from a federal student loan repayment counseling service, you’ll be able to apply for the right repayment plan.
Did You Go into Public Service Upon Graduation?
If you went into public service upon graduation, you might qualify for a federal student loan reduction or elimination of your debt. There are various programs to consider, and a federal student loan repayment counseling service can help you decide which program is best for you. There are requirements that have to be met, such as working in a particular community for a certain amount of time. If you meet these requirements, however, it can help put you on the road to financial stability.
If you’re looking for federal student loan repayment counseling, contact us to find out how we can help you.