What exactly is a Student Loan Relief Counseling Agency? These are individuals whose experience lies in the proper management of student loan related problems. Their expertise and knowledge to enable them to aid students and point them the right way out of their financial debt. Student loan relief is probably the most general term for the various federal schemes including student loan forgiveness and repayment plans. In other words, all these can be termed as debt relief programs. A Student Loan Relief Counseling Agency, generally refers to the Federal Government’s counselors who can solve the problems of borrowers in terms of managing their student loan debts. It is an important part of the repayment plan offered by the government for those who want to come out of their financial liabilities. The main purpose of this program is to assist borrowers who have undertaken massive debts and are unable to payback their loans. It is also meant to guide the government to provide support to those students who wish to complete their education despite their weak financial position. Student Loan Relief Counselors provide necessary advice and recommendations to borrowers.

Student Loan Relief Counselors Service

This service is provided by specialized counselors who are recruited by the government or private organizations for the purpose. The government often appoints State-funded agencies such as the Sallie Mae or the Fed EDwards, while private companies are mostly governed by the policies and strategies devised by the government. Private companies usually provide student loan relief counselors to cater to borrowers individually. However, it is not easy to get hold of one. There are a number of reasons that make it difficult for students to locate reliable, authentic and quality student loan help. Primarily, most of the private companies do not advertise their services online or even provide a phone number. They adopt a secretive approach when dealing with their clients. Hence, it becomes essential for borrowers to research on their own and identify reliable student loan relief counselors. Borrowers can make use of the internet and contact student loan counselors from various private and government institutions. Some of the well-known agencies include Consumer Credit Counseling Services (CCCS) which is primarily sponsored by the Federal Trade Commission, The Association of Independent Consumer Credit Counseling Agencies (AICCA), and The National Foundation for Credit Counseling.

In addition, borrowers need to be aware of the type of questions they should ask in order to obtain useful and quality results. Asking relevant questions such as what is a student loan relief counselor and what would be the process involved in filing bankruptcy is important before hiring one. It is also important to know the type of fees charged by these counselors. Professional fee-only counselors will not require you to pay any money. There are other types of student loan relief counselors who charge a certain amount of money in order to assist you with the financial situation.

Another important aspect that students need to be aware of is whether the student loan relief counselors they are contacting have any affiliation with any federal or state agencies. A borrower may face problems if the counselor’s agency does not have an agreement with the Department of Education. Moreover, it is advisable for borrowers to check whether they are dealing with licensed and certified counselors. This is because some counselors are not properly trained and may worsen the financial situation of borrowers instead of helping them. If you are having a good relationship with your local private student loan help provider, you can always check with your state’s department of education for any complaints against the company. Also, you can inform the state authorities if you find out that your counselor is not following the settlement process according to the rules.

Related Topic: Student Debt Counselling

Related Topic: Student Loan Debt