College is supposed to be an uplifting experience, and your degree is supposed to lead to a high paying job and a carefree lifestyle. But for many of us, this just isn’t reality. Millions of Americans are struggling with student loan debt. Most feel helpless against their mountain of debt and some are confused about where to begin. If this sounds like you, don’t give up. Whether you are a recent graduate unable to find full-time employment or you finished college years ago and still have student loans to your name, our student loan counseling can help and can point you in the right direction.
How It Works
Clearpoint’s student loan counseling starts with a full review of your financial situation. By taking a look at the “big picture” we are able to make the best suggestions for you. This includes a review of your housing situation and credit card debt. We might even suggest a debt management program to help with your credit cards if you are struggling in that area. But of course, the primary focus of the session will be your student loan debt.
During your student loan counseling session, your counselor will assess how much difficulty you are having in your student loan repayment. Your options may vary depending on whether you are in default or have been making timely payments. From there, your counselor will explain the following federal student loan repayment options:
- Traditional student loan repayment
- Loan rehabilitation programs
- Student loan consolidation
- Income-based repayment plans
- Student loan forgiveness programs
- Other student loan repayment programs
During your student loan counseling session, your counselor will explain these programs and services in detail and will outline the pros and cons of each student loan repayment option. Your counselor can also help you determine whether you may potentially qualify for these programs.
For your private loans, your counselor can suggest ways to talk to your student loan servicers in order to potentially enroll in a better repayment plan.
Benefits of Non-profit Student Loan Counseling
Our student loan counseling offers some unique benefits to you. If you choose to enroll in a student loan counseling session with Clearpoint, you should expect to receive:
- Expert advice from a non-profit agency
- Easy to understand explanations that help you make sense of your options
- Information about repayment program eligibility, potentially saving you hundreds or thousands of dollars over the course of your student loan repayment