Consumer Law

How To Handle Student Loan Debt? A New Website Provides Resources

By Kemnitzer, Anderson, Barron, Ogilvie & Brewer

Students graduating from college have a few months to savor their accomplishment before worrying about repaying their student loans. But what happens when they have problems making their payments? A new website, Student Loan Borrower Assistance, includes information on repayment options, avoiding and getting out of default, dealing with collections agencies, and much more.

The website was created by Deanne Loonin, a staff attorney at the nonprofit National Consumer Law Center. She says "the site describes the rights and obligations of student borrowers in plain language, so that they can understand their options, and stand up for themselves."

In a press release, Student Loan Borrower Assistance describes itself as "the first and only independent resource that provides advice and objective information for borrowers, their families, and legal advocates." The site features straightforward information about topics ranging from choosing a student loan to getting out of default and dealing with aggressive collection agencies. It also includes policy briefs, legal case studies, sample documents and promissory notes, and other valuable resources.

This should be an important resource for borrowers, who graduate with an average of $20,000 in student loans.

Full post as published by California Credit Law Blog on November 28, 2007 (boomark / email).