Have you been searching for private student loan relief? We can help!
Student loan debt has reached an all-time high, and according to the Consumer Financial Protection Bureau, the total amounts to around $1.2 trillion, with an astonishing 7 million Americans currently in default.
Out of this amount, somewhere in the neighborhood of $150 billion is private student loan debt. This is a problem for multiple reasons; private student loans generally have higher interest rates compared to federal student loans, costing more money to pay off. There are fewer repayment options available for private student loans as well.
There are currently many programs available for federal student loans, and now, relief is finally available for private student loan debt as well.
If you have private and/or federal student loans and are struggling to pay off your debt, fill out the form below or call us at (800) 940-8911 to get started on your way to private student loan relief.
PRIVATE STUDENT LOAN CONSOLIDATION PROGRAMS
Student loan consolidation is akin to any other type of loan program where you have several different loans and you combine them (consolidate) into one payment. This is an ideal option for people who want to reduce their monthly payment and interest rate, though the terms of payment could be greatly extended. Once private student loans are consolidated, it’s very important to stick with your plan.
Private Student Loan Modification Programs
The Consumer Financial Protection Bureau (CFPB) saw a 38% increase in complaints regarding private student loans this past year. The majority of the complaints dealt with repayment options and lack of flexibility in restructuring loans, according to the CFPB annual report released in October. Goodbye Loans together with specific private lenders are working to help students manage their private loan debt. To learn more about our loan modification programs, contact us (800) 940-8911.
Unfortunately for students, the private student loan industry is thriving, whereas students are the ones suffering. We need to change that. Private universities, public colleges and For-Profit schools are incredibly expensive. In our very humble opinion, the CFPB needs to crackdown on this HARD so students can get a quality education without sacrificing their financial health.