Student loans have been in the news a lot lately, and while most of the attention has been on the federal government’s recently announced student debt relief plan, many of those details are still being worked out.
The ProMedica Financial Opportunity Center offers dos and don’ts to help you maximize any benefits that may be available to you:
- Check the Federal Student Aid’s Student Debt Relief Plan website to get the most up-to-date information on next steps related to loan cancellation.
- Use the Public Service Loan Forgiveness Help Tool by October 31, 2022, to take advantage of time-limited changes to the program.
- Update your contact information with your loan servicer to make sure you receive up-to-date information about your loans. You can look up your loan servicer on this website or by calling the Federal Student Aid Information Center at 1-800-433-3243.
- Don’t ignore notices from your loan servicer. Even if you were previously in default, you may be eligible for the Fresh Start initiative that will allow you to get your loans out of default and access other benefits.
- Don’t pay any upfront fees to individuals or companies offering to help you apply for debt relief. Anyone offering to expedite your debt relief application or promising a quick fix is likely a scam.
Schedule a confidential one-on-one appointment with a ProMedica Financial Opportunity Center financial coach if you would like to discuss your unique situation. This service is offered at no cost. Schedule an appointment by calling 567-585-0059 or schedule online.