College Admissions Expert Elizabeth Levine: Help with 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

More From The Ask The Expert

  • Quickbooks Expert Rochelle Dejong: Outsourcing your Accounting
  • Firearms Safety Expert Jimmy Cosenza: Preparing Firearms
  • College Admissions Expert Elizabeth Levine: Paying Back Student Loan Debt
  • Quickbooks Expert Rochelle Dejong: Income Tax Preparation
  • College Admissions Expert Elizabeth Levine: FAFSA Mistakes
  • College Admissions Expert Elizabeth Levine: FAFSA
  • College Admissions Expert Elizabeth Levine: ACT vs. SAT
  • College Admissions Expert Elizabeth Levine: SAT Scores vs. ACT Scores
  • College Admissions Expert Elizabeth Levine: Preparing for College Visits
  • College Admissions Expert Elizabeth Levine: Best Paying Careers
  • College Admissions Expert Elizabeth Levine: Saving for Your Child's Education
  • College Admissions Expert Elizabeth Levine: Financial Aid Deadlines
  • College Admissions Expert Elizabeth Levine: Preparing to Apply to Colleges
  • College Admissions Expert Elizabeth Levine: College Cost vs. Earnings of Graduates
  • College Admissions Expert Elizabeth Levine: Financial Aid Myths
  • College Admissions Expert Elizabeth Levine: Help with Student Debt
  • College Admissions Expert Elizabeth Levine: Letters of Recommendation
  • College Admissions Expert Elizabeth Levine: Supplemental Essays
  • College Admissions Expert Elizabeth Levine: Free SUNY or CUNY Tuition
  • College Admissions Expert Elizabeth Levine: Pretigious Institutions
  • College Admissions Expert Elizabeth Levine: Terms for Financial Aid
  • College Admissions Expert Elizabeth Levine: Marketing Materials from Colleges
  • College Admissions Expert Elizabeth Levine: Participating in College Level Sports
  • College Admissions Expert Elizabeth Levine: Visiting Colleges
  • College Admissions Expert Elizabeth Levine: Getting a Jump on the College Search
  • Comments

    Pool Rules



    MUST READ NEWS

    Orange County Land Trust’s 2018 calendars on sale now
    MOUNTAINVILLE — The Orange County Land Trust 2018 calendar, featuring the award-winning photography of Sugar Loaf artist Nick Zungoli...
    Read more »
    Image

    Orange County residents urged to shop local on Small Business Saturday
    GOSHEN — Orange County Executive Steven M. Neuhaus and President and CEO of the Orange County...
    Read more »
    Image

    Woodbury Common Premium Outlets to kick off holiday season
    — Woodbury Common Premium Outlets will kick off the holiday season with extended hours, special sales and a one-of-a-kind...
    Read more »
    Image

    Newburgh Symphony to perform first holiday concert
    — The Greater Newburgh Symphony Orchestra will perform its inaugural Holiday Concert on Saturday, Dec. 16, at 4 p.m. at Aquinas...
    Read more »
    Image

    VIDEOS



    E-NEWSLETTER

    Sign up to get our newsletter emailed to you every week!

    • Enter your email address in the box below.
    • Select the newsletters you would like to subscribe to.
    • Click the 'SUBSCRIBE' button.

    * indicates required
    Community Newspapers


    MOST COMMENTED



    Weather in Monroe, NY