Here at MMI, we're very excited to announce our newest financial education counseling program, designed to help student loan borrowers make informed decisions about student loan repayment. Through this new counseling program, student loan borrowers will meet one-on-one with a trained counselor to explore their repayment options, discuss ways to rehabilitate defaulted student loans, and receive education on the most up-to-date deferment and forbearance programs.
Today, there are approximately 37 million Americans holding nearly $1 trillion in total student loan debt, according to the Consumer Financial Protection Bureau. Seven million of those borrowers - accounting for nearly $90 billion in student loan debt - are currently in default.
Student loan debt is racing out of control. Over the past two years, student loan debt has risen by 20 percent - 10 times faster than credit card debt. It's already the second largest source of debt in the average American household, after mortgages.
With student debt growing at such an alarming rate and the consequences for mismanaging that debt so severe, it's more important than ever that consumers understand their options. That's why we're so excited to be able to help borrowers make the best decisions regarding their repayment options.
MMI’s student loan counseling program includes a complete assessment of the consumer's personal finances, a budget analysis, a financial goal review and the creation of an action plan designed to assist student loan borrowers in reaching overall financial success. Counseling participants will leave the session feeling empowered and prepared to manage their student loans, as well as their overall financial life.
To schedule your student loan counseling session with a trained credit counselor, call 888.922.9723 today. For more information, visit our Student Loan Counseling page.