College Admissions Expert Elizabeth Levine: Help for Student Debt


Make text smaller Make text larger



Photos



  • Elizabeth Levine



Is there any help for students who are out of college and have student debt?


I receive panicked calls from young adults that have graduated college and/or graduate school asking for advice on how to manage their student debt that they now have to undertake and manage. Each situation is different but there is help that too many students don't take advantage of and should look into.

For a student's federally backed loans there are 2 programs that can cap your payments between 10 – 15% of discretionary income and the remaining loan balance will be forgiven (yes, I said forgiven, poof, gone!), after 20 – 25 years. As long as you are diligently making that 10 – 15% of your discretionary income payment, which could be as low as $10 per month, regardless of how much is left after 20 – 25 years (depending on the program you are in), the remaining balance, principal and all that interest is gone.

If you work in public service, and that means any working for the government or registered non-profit, your loans will be forgiven in 10 years.

What is astounding is that this program is significantly under enrolled, even with the government actively marketing these programs.

If you have student debt, I urge you to at least explore these programs that are available to help in managing your loans providing the opportunity to help you financially thrive as opposed to being strapped with loans and going backwards.

If you have any questions about the college admissions process or the above information please do not hesitate to contact me at info@signaturecollegecounseling.com or by phone, 845.551.6946.

Elizabeth Levine
Signature College Counseling is an Orange County, Hudson Valley based company
that works one on one with students and their families in navigating the admissions process so you attend the college that is right for you.
845.551.6946
Ask The College Admissions Expert a Question
www.signaturecollegecounseling.com




Make text smaller Make text larger

Comments

Pool Rules



MUST READ NEWS

Girls Run the World
More than 900 people turned out for Girls World Expo Sunday October 20th at the Palacio Catering Center in Goshen. Activities for girls 11-18 included archery and self-defense...
Read more »
Image

Keep your pets safe this Halloween
Veterinarians are warning pet owners about the potential dangers looming during Halloween season.
The most common health hazard is the ingestion of candy. Candy containing...

Read more »
Image

Robert M. Sauschuck of Matamoras, Pa., dies at age 83
Robert M. Sauschuck of Matamoras, Pa., passed away Sunday, Oct. 14, 2018, at Orange Regional Medical Center in Wallkill, N.Y. He was 83.
He was born Aug. 28, 1935, in Port...

Read more »

Michael L. Dunn of Chester, N.Y., dies at age 61
Michael L. Dunn of Chester, N.Y., passed away Tuesday, Oct. 16, 2018, at Orange Regional Medical Center, Wallkill, N.Y. He was 61.
Son of the late Daisy Alice Thompson Dunn,...

Read more »
Image

VIDEOS



Subscribe to our mailing list

* indicates required
Community Newspapers



MOST COMMENTED



Find more about Weather in Chester, NY