Thanksgiving for student loans


There are a lot of negative news in the media right now
surrounding student loan debt. So in light of the coming holiday, I’d like you to consider the positive side of federal student loans.

Sure, the industry is not perfect. Far from, in fact.

But these loans have quite a few characteristics that work in the borrower’s favor – a lot more than you might expect!


  • First of all, your credit score was not a consideration.

To receive your loan, you didn’t have to have a certain credit score. The only real requirement for receiving one was simply that you were in need of a school loan based on yours and/or your parent’s financial condition.


  • Secondly, you don’t have to pay them back right away.

A student loan is one of a very, very rare type of loans that allows you to defer your payments for at least 4 years, or until your schooling is done.


  • Thirdly,once you are finished with school, you still have the ability to use a bunch of additional repayment options.

You have access to forbearance, Income-Based or Contingent Repayment, Interest Only Payments, and other deferment types such as Unemployment Deferment or Economic Hardship Deferment.

Folks, you will very likely never enjoy the same kind of patience and flexibility with payments from your mortgage lender!


  • Finally, these loans afforded you the ability to get an education.

It gave you years of schooling, that hopefully prepared you for a fruitful career of your choosing. Ultimately, a student loan offered you a true investment in your future, and in your quality of life.


Additionally, there are even more favorable characteristics about your student loans than I didn’t mention above, such as, a more forgiving policy towards delinquency and default (including loan rehabilitation), and the fact that you can get a portion of your loan interest paid for (a.k.a. subsidized) by the federal government.

I encourage you to feel grateful that federal student loans exist, as they contributed towards your life success, even if you didn’t finish school.


Want further guidance about managing your student loan debt? Schedule a free consultation with me by clicking here. We’ll go over your loan details, consider your budget and life plans, and from there, proceed to chat about what your next steps ought to be.

Maybe all you need to do is consolidate your loans, or maybe you could benefit from a more holistic plan of action, one that involves the best repayment choices for ALL your loans. Regardless, I look forward to being of help!

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