MMI assists consumers struggling with student loan debt

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.

Jesse Campbell is the Content Manager at MMI, focused on creating and delivering valuable educational materials that help families through everyday and extraordinary financial challenges.

  • The Consumer Federation of America (CFA) is an association of nonprofit consumer organizations that was established in 1968 to advance the consumer interest through research, advocacy, and education. Today, nearly 300 of these groups participate in the federation and govern it through their representatives on the organization's Board of Directors.
  • The National Council of Higher Education Resources (NCHER) is the nation’s oldest and largest higher education finance trade association. NCHER’s membership includes state, nonprofit, and for-profit higher education service organizations, including lenders, servicers, guaranty agencies, collection agencies, financial literacy providers, and schools, interested and involved in increasing college access and success. It assists its members in shaping policies governing federal and private student loan and state grant programs on behalf of students, parents, borrowers, and families.

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  • The mission of the U.S. Department of Housing and Urban Development (HUD) is to create strong, sustainable, inclusive communities and quality affordable homes for all. HUD works to strengthen the housing market in order to bolster the economy and protect consumers; meet the need for quality affordable rental homes; utilize housing as a platform for improving quality of life; and build inclusive and sustainable communities free from discrimination.

  • The Council on Accreditation (COA) is an international, independent, nonprofit, human service accrediting organization. Their mission is to partner with human service organizations worldwide to improve service delivery outcomes by developing, applying, and promoting accreditation standards.

  • The National Foundation for Credit Counseling® (NFCC®), founded in 1951, is the nation’s largest and longest-serving nonprofit financial counseling organization. The NFCC’s mission is to promote the national agenda for financially responsible behavior, and build capacity for its members to deliver the highest-quality financial education and counseling services.