College Admissions Expert Elizabeth Levine: Help for 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

  • College Admissions Expert Elizabeth Levine: Misconceptions About Paying for College
  • College Admissions Expert Elizabeth Levine: Newsletter
  • College Admissions Expert Elizabeth Levine: Who Chooses
  • College Admissions Expert Elizabeth Levine: Net Cost
  • College Admissions Expert Elizabeth Levine: 3 Legs to Financing Your Child's College Education
  • Tax Expert Noel Spencer: Refund Status
  • College Admissions Expert Elizabeth Levine: Preparing for Campus Visits
  • Tax Expert Noel Spencer: Tax Credit
  • College Admissions Expert Elizabeth Levine: College Generosity
  • College Admissions Expert Elizabeth Levine: Newsletter Tips
  • Tax Expert Noel Spencer: 401K
  • Tax Expert Noel Spencer: Minimum for Filing Tax Return
  • College Admissions Expert Elizabeth Levine: Financial Aid Picture
  • Tax Expert Noel Spencer: S Corporation Office In Home Deduction
  • College Admissions Expert Elizabeth Levine: Financial Boundaries
  • College Admissions Expert Elizabeth Levine: Name Brand Schools
  • Tax Expert Noel Spencer: Coverdell Education Savings Account Beneficiary Change
  • College Admissions Expert Elizabeth Levine: Campus Visits
  • Tax Expert Noel Spencer: Inherited Property Holding Period
  • College Admissions Expert Elizabeth Levine: More Aid and Less Loans
  • Tax Expert Noel Spencer: Stop Smoking Program Medical Deduction
  • College Admissions Expert Elizabeth Levine: College Cost vs. Earnings of Graduates
  • Tax Expert Noel Spencer: Start-up Costs for Small Employer Pension Plan
  • College Admissions Expert Elizabeth Levine: College Essay Writing
  • Tax Expert Noel Spencer: Diapers Medical Deduction
  • Tax Expert Noel Spencer: Health Insurance Deduction Pre-Tax Dollars
  • College Admissions Expert Elizabeth Levine: Getting a Jump on the College Search
  • College Admissions Expert Elizabeth Levine: Financial Aid Myths
  • College Admissions Expert Elizabeth Levine: Help for Student Debt
  • College Admissions Expert Elizabeth Levine: Letters of Recommendations
  • College Admissions Expert Elizabeth Levine: College Marketing Strategy
  • College Admissions Expert Elizabeth Levine: School Specific Supplemental Essays
  • College Admissions Expert Elizabeth Levine: Tax Returns and Financial Aid
  • College Admissions Expert Elizabeth Levine: Student Loan Debt
  • Comments

    Pool Rules



    MUST READ NEWS

    Sussman is Green Party’s pick for NYS attorney general
    BY ERIKA NORTON
    The Green Party announced that Chester civil rights attorney Michael Sussman is the party’s nominee for...

    Read more »
    Image

    Foodie845 2018
    The Chronicle brings you information and menus from local restaurants.
    Image

    First responders pay tribute to Lisa Scheuermann
    tribute to Lisa Scheuerman
    Read more »
    Image

    The verdict is in: Goshen High School's mock trial team is best in the state
    — A team from Goshen High School has won the 2017-18 state mock trial tournament, edging out Brooklyn Technical High School in an...
    Read more »
    Image

    VIDEOS



    Subscribe to our mailing list

    * indicates required
    Community Newspapers


    MOST COMMENTED



    Find more about Weather in Chester, NY