“The really scary thing is we don’t really have a plan to either address the millions of borrowers who’ve taken on student loan debt or a plan to really stop this.”
Words spoken by Seth Frotman, the former student loan ombudsman from the Federal Consumer Financial Protection Bureau ring loud and true to many millennials today.
With over 44 million borrowers holding over $1.5 trillion in debt the number (and problem) is continuing to grow. But where did we go wrong? How did we get here?
There are a number of things that helped lead millions of Americans down this costly path. Many of it stems from a lack of valid information while others point the finger at old generations for pushing the younger generations towards a university degree. Financial analysts say it could be the cause of cut funding for higher education (and lack of government protection) that caused the tuition rates to skyrocket. Perhaps it was a little bit of everything that led us to this moment.
However, we got here, many individuals are struggling with their student loan debt; completely unaware of the possible relief programs available to them. Borrowers unable to make their payment are at risk for having their wages garnished, their tax refunds being seized, and even their Social Security benefit being taken.
Contact The Student Loan Advisory Group to have a loan specialist review your student loan debt—even if you have already defaulted—to see what options and relief may be available for you. Our mission is to help student loan borrowers achieve the financial freedom from the student debt that is weighing them down.
Our services include
- Removing wage garnishments
- Having defaulted loans removed
- Identifying a more affordable repayment plan
- Applying for loan forgiveness options you may be eligible for
- Preventing your income tax refund from being seized
Regain control over your student loan debt and help fight the student loan crisis with proper loan and debt education from The Student Loan Advisory Group.