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

Comments

Pool Rules



MUST READ NEWS

College Admissions Expert Elizabeth Levine: Evaluation in the College Admission Process
Although every college is different, as are their priorities for admissions decisions, the list below outlines the top 12 strengths and experiences colleges look for in high...
Read more »
Image

Tuxedo lowers tuition to non-district students
By Nancy Kriz
— The Tuxedo School District has lowered tuition for non-district residents for the upcoming school year, hopeful...

Read more »

Fireworks encore
Photographer William Dimmit attended the Town of Woodbury's fireworks celebration this past weekend, and these images show the beauty of colors against a sun-setting sky.
Read more »
Image

Who's who at the Monroe Farmers Market: R&G Produce
MONROE — R&G Produce has been the anchor of the Monroe Farmers Market since its inaugural year in 2015.
This family-owned...

Read more »
Image

VIDEOS



Subscribe to our mailing list

* indicates required
Community Newspapers


MOST READ

Where in clues
Just a trim
  • Jul 12, 2018
Local News
Fireworks encore
  • Jul 12, 2018

MOST COMMENTED



Weather in Monroe, NY