Student Loan Program/ Evaluation and enrollment

There are currently seven alternative federal student loan repayment options offered by the US Dept. of Education. There is almost always one or two to each and every consumer and their circumstance. Some offer quick repayment to minimize interest paid

Others offer graduated payments for those with almost definite and gradual increase expectancy. And of course, a few that offers both payment and balance reduction through a IBR or income based repayment

Education/ Student Loan Industry.

Federal Student Loans are by far the most un-regulated consumer credit industry. Service providers have lobbyist in Washington second to none and have successfully hijacked the industry. The first thing a consumer may have noticed is that they don’t pay the DOE (Dept. of Education).

They pay a bank. Why is that? If the Government loaned me the money, why am I paying it back to a bank? Who are these banks we pay, what do they get out of it and what is their motivation? The information will likely anger anyone.

DOE (US Department of Education)

The DOE or U.S. Department of Education is the Federal Entity that over sees the responsibilities the Government has in education as well as the approval and retrieval of money(s) lent on behalf of the federal government for the use of education.

Your Credit Manager can provide you with phone numbers, location address as well as website address for te DOE.

Service Providers

There are currently seven Service Providers are Private Banks. Banks in contract with the government to oversee, collect, monitor service and or provide customer service to consumers in repayment and deferment. They are paid on the interest of loans they service.

Prioritization

The order, in which debt should be paid in, based on benefit to include interest and amount as well consequence to deferring such debt. Most people pay loans the absolute worst order. Usually placing rent and or a mortgage first not knowing that federal student loan debt is the worst debt one can carry. You cannot get rid of it.

You cannot declare bankruptcy, you cannot retire as federal student loan service providers are the only organizations that can (and certainly will) garnish social security income. This is quite possibly one of the most important services we offer and its also one we offer for free. You owe it to yourself to let one of our trained Credit Mangers prioritize your debt. Whether you follow it or not, to know this information can be the difference between paying countless thousands of dollars you do not need too.