Student & Parent Loans

For years, student loan scams have been tempting borrowers with empty or misleading promises that they can have their loans discharged or forgiven. These unscrupulous companies charge fees to enroll borrowers in free Department of Education programs and services including income-driven repayment plans, deferment and forbearance. Now, amid the coronavirus pandemic, a new crop of student loan forgiveness program scams have emerged. Their tactic is the same, except this time they're attempting to charge fees for the protections that are…

Jan Miller is a student loan expert and founder of Miller Student Loan Consulting, where he helps clients develop student loan repayment strategies that fit their financial goals.  Previously, Miller spent eight years working in 11 different departments at four student loan servicers — including Nelnet, one of the largest federal student loan servicers. “I saw every side of the industry,” Miller says.  Later in his career, when he was working as an investment advisor at Morgan Stanley, Miller started…

Debt, despite how essential it is for many American families trying to afford college, can be in and of itself the cause for quite a bit of stress. When you factor in the further difficulty students are having finding employment after graduation, and loan management companies that can be less than forthcoming with information that could ease your repayment burdens, the tension only grows. Wouldn't it be great if there was a trick or a quick fix to help get…

Student loans are big business. Collecting defaulted student loan money is becoming an even bigger business. « Learn more about student loans An Overview on Government Default Student Loans 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…

Can Parent Plus Loans Be Forgiven? Unbeknownst to many who are struggling to pay for college, the current loopholes in the Parent Plus Loan rules allow some families to receive full forgiveness on a boatload of college debt.   It’s not a viable strategy for everyone, it’s not a recommendation by any means, and there is quite a bit of controversy surrounding it, but there is a way to banish the bills from your Parent Plus Loan for good. But…

Student Loan Servicing Companies A lot of students will be entering a student loan forgiveness program in the not too distant future. Some parents have also taken Parent Plus Loans with a plan to pay it back under the Income Contingent Repayment Program. Unfortunately, many will also encounter difficulties with their student loan servicing companies. Here are some important resources that you may want to keep on file « Learn more about student loans Where to Go for Help With…

My College Planning Team's Financial Aid Team presents five of the most common student loan mistakes. https://www.youtube.com/watch?v=QqXP7WTrDmk Need Help Paying for College? In addition to helping you avoid the most common student loan mistakes, My College Planning Team's Financial Team can assist you in identifying the best methods to use to fund your student's college education. Contact our team for more information or click here to schedule a free consultation. « Learn more about student loans My College Planning Team Serves the Following Chicagoland Areas: Arlington…