SUGAR LAND — Money Management International (MMI) announced its newest financial education counseling program, designed to help student loan borrowers make informed decisions about student loan repayment. Through this new counseling program, student loan borrowers will meet one-on-one with a trained counselor to explore their specific repayment options, discuss ways to rehabilitate defaulted student loans, and receive education on the most up-to-date deferment and forbearance programs.
Today, there are approximately 37 million Americans holding nearly $1 trillion in total student loan debt, according to the Consumer Financial Protection Bureau. Student loan debt is growing ten times faster than credit card debt and currently represents the second highest, after mortgages, in total household debt. With tuition costs and debt growing at such an alarming rate, coupled with higher interest rates and serious consequences for defaulting, it pays to take the necessary steps to become educated on student loan repayment programs.
“Although there are new programs and options available for struggling student loan borrowers, choosing the one that best fits a person’s unique financial needs can be difficult,” said Jo Kerstetter, vice president of education and industry relations for MMI. “We are excited to help borrowers make the best decisions regarding their repayment options.”
MMI’s student loan counseling program begins with a complete personal finance assessment, including a budget analysis, a financial goal review and the creation of an action plan designed to assist student loan borrowers in reaching overall financial success. Counseling participants will leave the session feeling empowered and prepared to manage their student loans, as well as their overall financial life.
For more information, visit MMIurl.org/StudentLoanService or call 888-922-9723.
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