Student Loan Repayment Can Be Confusing, So Nonprofits Are Creating A Hotline To Help

Student Loan Repayment Can Be Confusing, So Nonprofits Are Creating A Hotline To Help

Student loan borrowers struggling with confusing information from the U.S. Department of Education will get help from a new website and hotline being launched by activists and labor unions. Natalia Abrams, who works with activist group Student Debt Crisis, said the hotline and website are designed to assist student borrowers who complain to her regularly that they’re frustrated when they search the Education Department’s website for helpful information. “We’re saying to the Department of Education it should not be a group of borrowers and non-profit groups doing this,” Abrams said. “It should be the department providing this assistance to borrowers. There are so many people I talk to when they call that have never heard of income-based repayment, have never heard of loan forgiveness programs.” Student Debt Crisis is working with the AFL-CIO, AFSCME and the American Federation of Government Employees in setting up the website — TheBorrowers.org — and the temporary hotline. The hotline will be staffed May 19, 20 and 21 from the AFL-CIO’s Washington headquarters. Americans collectively owe more than $1.2 trillion in student debt, a burden that experts say is creating a drag on the overall economy. Denise Horn, Education Department spokeswoman, said the government was taking multiple steps to help borrowers better understand their repayment options, “including working to expand income-driven options for borrowers.” “In addition, the Department has also created tools such as the College Scorecard and Financial Aid Shopping Sheet so that students and families can understand their options and choose the college that provides them with the best value,” Horn said. The Education Department has faced pressure in recent years to...
Coalition to Run Three-Day, Free Student Debt Hotline This Week

Coalition to Run Three-Day, Free Student Debt Hotline This Week

If you’re one of the millions of people with significant student loan debt, you’ll want to visit www.theborrowers.org. From Tuesday to Thursday this week, borrowers can call a free hotline to find out what they can do to ease their financial burden. A group of labor unions, consumer advocacy, youth, and student debt-relief organizations create the site to inform borrowers of their available options, including applying for government programs and enforcing their legal rights, and provide resources such as referrals to student loan attorneys and vetted credit counselors. Read More at Blue Nation...