Student Loan Debt Help!
College is expensive. This is a simple fact. In order to handle the cost many students find themselves taking out loans to cover the expenses. Upon graduation, their student loan debt has grown so much that even with a high paying job; they will be paying on loans for years to come. If you are at a point where you can no longer pay your student loan debt, there are options available. The first step is to call Be Free Financial, where you can explore your options with a professional advisor, who understands how to help you regain control of your finances.
You have two basic options when your student loan debt has become too much to handle:
- 1.Consolidate Student Loan Debt
- 2.Refinance Student Loan Debt
When you consolidate your student loan debt you will be combining all of your student loans into one, affordable payment. However, these consolidation plans may come with high interest rates. This is where Be Free Financial can step in and help you consolidate your loans, with an affordable interest rate. You will be able to have one, single, monthly payment.
If you choose to refinance your student loans you can lower your payment and interest rate, however you will still owe the full amount of the loan. If you struggled to pay it before, chances are, you will again. In these instances, it is probably a good idea to consolidate your student loans.
Be Free Financial will negotiate with your lenders on your behalf. They will work to achieve a payment that you can easily afford. Many times they can also help eliminate excessive interest charges that were applied due to late payments. By being able to apply your payments to the principle of the balance, you can pay the loan off sooner.
Student loans are typically given by government agencies. However, the debt will be sold to collection agencies once you have paid late for a certain amount of time. When this occurs you can easily consolidate your loans, with your lenders being more than willing to work with you.