LA PRENSA: Program aims at cutting student loan debt

Career College Central Summary:

  • With a new school term approaching, numerous college students will head to campuses across the country at a great expense.
  • With student loans now surpassing medical bills as the most pervasive debt in the country, repayment options are always timely. That is where Education Solutions Federal Student Loan Forgiveness comes in with various ways to get into a 10-year loan forgiveness program.
  • “We feel we’re consumer advocates so even though loan servicers know about these types of programs, it’s not in their best interest to put people in them. So we make sure we get people in the right programs,” said Kent Scherzinger, director of marketing and student loan counselor for Education Solutions Federal Student Loan Forgiveness.
  • That was the message at the recent information session at TriPoint in midtown San Antonio.
  • Student loans now account for over $1 billion in privately held debt while servicers quietly become for-profit entities. That means the longer the term of the loan, the more money the provider makes—sometimes for their stockholders.
  • “If they work for a non-profit or a government agency or in education, there’s a 10 year forgiveness program they rarely find out about,” continued Scherzinger. “That’s based on the number of dependents they have since it’s an income-based program. Most of our education is through meting we have like this.”
  • With more banks getting into the student loan game, the variety of products to finance a degree is only growing.

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