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Educational Consultants
1001 Ogden Ave.
Suite 203
Downers Grove, IL

Financial Consultants
1717 North Naper Blvd
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Naperville, IL

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How Uncle Sam Handles Defaulted Student Loans

How Uncle Sam Handles Defaulted Student Loans

Student loans are big business. Collecting defaulted student loan money is becoming an even bigger business. An Overview The federal government works with student loan servicing companies to collect on outstanding student loans. It’s these companies that deal with students once the student loan papers are signed and payments finally come due. When borrowers default, the U.S. Department of Education’s debt collectors come knocking. The federal government has given these debt collectors immense power, unlike anything an ordinary debt collector can…

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PSLF: Tips For Students With Large Government Loans

PSLF: Tips for Students with Large Government Loans

There has been a lot of uncertainty regarding the Public Service Student Loan Forgiveness (PSLF) program recently. That being said, we think it is likely to remain in place, although perhaps in a modified form.  Accordingly, it is important for borrowers entering public service employment to be prepared. Knowing what to do is especially important when student borrowers run into problems with their loan servicing company. As with any problem, the more you know, the sooner you can take action…

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The Student Loan Forgiveness Illusion

The Student Loan Forgiveness Illusion

It took a long time for the very generous forgiveness provisions included in the president’s 2010 Pay-As-You-Earn (PAYE) student loan program to finally get noticed by the general public. A full three years after launching the program, there were still only a handful of American families who knew about its existence. It’s hard to imagine a program that allowed a $40,000-a-year social worker with a $100,000 student loan debt to pay less than $200 a month for ten years and then have the entire loan balance…

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How Subsidized Loan Usage Limit And Transferring Can Affect Your Eligibility

How Subsidized Loan Usage Limit and Transferring Can Affect Your Eligibility

For many students from middle-income families, at least a portion of their student loans will be subsidized—i.e., interest-free during the school years and for the first six months after graduation. Recently, however, a new rule called the “Subsidized Usage Limit” (SULA) has been put in place to limit those loans.  This, of course, can affect what your students end up paying for their education. Here are the current limits on subsidized loans: Subsidized Loan Eligibility Limits (School Years): Bachelor’s Degree –…

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