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

  • Firearms Safety Expert Jimmy Cosenza: Ammunition
  • Quickbooks Expert Rochelle Dejong: Outsourcing your Accounting
  • College Admissions Expert Elizabeth Levine: Getting a Jump on the College Search
  • Firearms Safety Expert Jimmy Cosenza: Preparing Firearms
  • Quickbooks Expert Rochelle Dejong: Benefits
  • College Admissions Expert Elizabeth Levine: College Essay Writing
  • Quickbooks Expert Rochelle Dejong: Working in Office
  • College Admissions Expert Elizabeth Levine: Net Price Calculator
  • Quickbooks Expert Rochelle Dejong: Software
  • College Admissions Expert Elizabeth Levine: Evaluation in the College Admission Process
  • Quickbooks Expert Rochelle Dejong: Outsourcing
  • College Admissions Expert Elizabeth Levine: Demonstrated Interest
  • Quickbooks Expert Rochelle Dejong: Income Tax Preparation
  • College Admissions Expert Elizabeth Levine: Tax Returns and Financial Aid
  • Quickbooks Expert Rochelle Dejong: Outsourcing your Accounting
  • College Admissions Expert Elizabeth Levine: Paying Back Student Loan Debt
  • 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
  • Comments

    Pool Rules



    MUST READ NEWS

    Orange County High School All-County Band, Orchestra and Chorus in concert Jan. 27
    PINE BUSH — The Orange County Music Educators’ Association will host its High School All-County Band, Orchestra and Chorus...
    Read more »
    Image

    Monroe K of C crowns youth free throw champions
    MONROE — Several children from the Monroe area were named local champions of the 2018 Knights of Columbus Free Throw Championship and...
    Read more »
    Image

    Indoor track: A circus of odd events
    By Patrick Brown
    Walking into an Indoor Track Meet at the Ocean Breeze Athletic Complex in Staten Island is a startling experience:
    Outside the building one is mostly...

    Read more »
    Image

    The results
    1500m RW: Margaret Ryan, second in a time of 7:48.8
    1500m RW: Olivia Fisher, sixth in a time of 8:13.2
    300m Dash: Kristin Lubeskie, eight in a time of 41.8...

    Read more »

    VIDEOS



    * indicates required
    Community Newspapers


    MOST COMMENTED



    Weather in Monroe, NY