Student Loan Relief
Private and Federal Student Loan Relief options are relatively new. The student loan relief companies that you choose to engage should be thoroughly vetted before engaging ANY of them.
Student Loan Relief: BUYER BEWARE
Student loan debt relief can be a confusing and overwhelming process for those struggling with substantial amounts of student loan debt. However, it is important to remember that options are available to help manage and ultimately reduce this burden.
One option is consolidating your federal student loans through the William D. Ford Direct Loan Consolidation Program. This program allows you to combine certain federal loans into one new loan and offers a variety of repayment options. It is important to note that this program is free through the Department of Education, and you should be cautious of any company that charges a fee for this service.
Another option is to enroll in an income-driven repayment plan. These plans base your monthly payment on your income and can result in lower monthly payments. Some plans may even result in loan forgiveness after a certain number of years. It is important to carefully consider which plan is right for you, as some may result in paying more in interest over the long term.
Private student loan debt relief
Private student loan debt relief is also an option, but it is important to be cautious of companies that offer this service. Many of these companies use a debt negotiation and settlement approach, which can negatively impact your credit score. It is important to carefully research any company you are considering working with and ensure their services are reputable and transparent.
If you are struggling with student loan debt and are not sure where to turn, it may be helpful to seek the assistance of a certified consumer financial advocate. These professionals are skilled in all available options for debt relief and can help guide you toward the best solution for your individual situation. OCCAM-certified consumer financial advocates are committed to helping consumers navigate the options available and find the best solution for their specific needs.
Finally, it is important to be aware of any scams or fraudulent companies that may claim to offer student loan debt relief. These companies may charge upfront fees, not deliver on their promised services, or even worsen your situation. Doing your research and only working with reputable and transparent companies is important. OCCAM-certified companies are thoroughly vetted and adhere to strict standards of ethics and professionalism, ensuring that you work with a trustworthy and competent provider.
Although there are a lot of companies out there looking to part you from your money, there are plenty of decent, ethical, knowledgeable companies that can truly help you for a reasonable fee. If you find yourself over your head in student loans or just want to take advantage of the repayment programs available to you and don’t want to spend your time sorting out the details, a student loan relief or document preparation company may be a good solution. Fees for this service can vary, so shop around for a deal you like. OCCAM believes that it is important for you to know who you are dealing with when you receive that mailer or get that phone call. Ask the callers if they are an OCCAM Certified Provider. If they aren’t, you are rolling the dice. We thoroughly vet each applicant and make sure they are operating correctly and legally and are running the appropriate business type. It is important that you choose a reputable provider that will help you and not hurt you.
All of the programs being offered by the DOE can be accessed and applied for for free. You can visit the FSA to learn more about enrolling in the various programs available to you by VISITING THE FSA WEBSITE HERE
There are many Student Debt Reliefoperating a variety of models. Some will charge you a modest fee for a document preparation service and some will offer you a more complex offering for higher fees. Despite how they are charging you, there are state and federal laws that dictate how they can operate, how they can charge fees and make a series of mandatory disclosures. They must be honest about their service and not mislead you into believing they are affiliated with the Department of Education.A reputable company will NEVER ask you for your FSAID.