Why Seek Student Loan Counseling?

Image of college graduate holding diploma and student loan bill

Many individuals with student loan debt are not aware of the many repayment options they have. Cambridge Credit offers student loan counseling to provide graudates with options and a realistic repayment timeline.

What is Student Loan Counseling?

Student Loan Counseling is a new service offered by Cambridge Credit Counseling for those consumers who are struggling to manage their monthly federal student loan payments. This could be a result of unemployment, under-employment, or perhaps a financial hardship due to a medical situation. Many new graduates experience unemployment or under-employment at some point, and it can become easy to fall behind on monthly student loan payments. If you haven't started to repay your loans yet or you're simply having trouble understanding the loan repayment process, a Certified Student Loan Counselor is here to explain all of your options to you.

Cambridge can work with you to help you understand and manage the process of paying back your student loans. Our counselors have years of experience assisting consumers in a wide variety of financial situations. Our approach to student loan counseling is unique because we'll review your entire financial situation to help determine short-, mid- and long-term strategies to help keep your loan payments consistent with your financial goals. Simply put, Cambridge Credit Counseling is there to help you figure out what works best for you and help you repay your federal student loans in the most efficient way possible.

What can Cambridge Help me With?

Cambridge doesn't work with private loans, but we'd be pleased to assist you with the federal student loan repayment process, including:

  • Choosing a repayment plan
  • Changing your current repayment plan
  • Lowering your monthly payments
  • Ending garnishments and tax levies
  • Discussing Forbearance or Deferment options
  • Determining candidacy for Forgiveness or Cancellation
  • Consolidating your student loans
  • Learning how to better manage your finances

Whether you're having trouble paying your loans, aren't sure where to start, or are confused about the entire process, reaching out to one of our Student Loan Experts could help get you on the right path. It doesn't cost you a penny to inquire about our services, however, if you wish to proceed with our Student Loan Counseling, you would pay a small monthly fee ($49 or less) for our counseling services and a "success fee" after your application has been approved by your servicer or the DOE. We pride ourselves on our modest fees, which will be calculated based on your budget and what you can afford.

Does Everyone Need Student Loan Counseling?

Student loan counseling is not required to repay your student loans, but it can be an extremely useful tool. Trying to navigate through the federal repayment options can be difficult on your own, and many people find the process more than a bit overwhelming. Understanding the terms of each available repayment plan, knowing how much you'd be required to pay and for how long, and when you should actually accelerate your plan to avoid paying excessive interest is something that we want to make sure you fully understand. Each client's well-being is of the utmost important to us, and that means helping them determine which repayment option works best for their situation.