Center for Financial Resources provides access to certified student loan counselors.
LSS Center for Financial Resources (CFR) is pleased to announce the launch of their student loan counseling program. This service will help deliver relief to borrowers who have been struggling to repay the money they borrowed to finance a college education.
“We are launching a best-in-class program that delivers to the highest standards when serving the needs of Americans with student loan debt,” said Cassandra Johnson, CFR’s first certified student loan counselor. “Our NFCC certified counselors are uniquely qualified to address the full range of financial challenges consumers face every day, which includes repayment of student loan debt.”
Student loan debt continued to grow without abatement in 2015 and has already eclipsed total credit card debt. Some estimates show the rate of growth to be nearly $3,000 per second, propelling the national student loan debt total above $1.3 trillion. Among the 43 million total student borrowers, 7.3 million are at least 90 days delinquent on their loans, 5 million are in default and millions more are in negatively-amortizing income-driven repayment plans. These figures indicate that student debt is likely to drive the next major financial crisis affecting millions of Americans, with spillover effects already impacting the market for homes, cars, and basic consumer goods and services.
All NFCC participating student loan counselors are experienced, NFCC certified credit counselors and have completed specialized training that covers the full inventory of student loan programs associated with repayment, forbearance or other loan modification options. In addition to the training requirement, NFCC student loan counselors have earned specialized certification. Along with the credit and housing counseling certification already recognized for setting the highest standards, the NFCC student loan counselor certification is regarded as the most thorough and comprehensive certification process for student loan counselors in the country. Those who receive counseling will benefit from a thorough financial review that will identify options based on their unique circumstances and individual needs. This holistic approach, already a standard among NFCC certified counselors, will empower borrowers to make informed decisions about their student loan repayment options and take charge of their financial lives. Additional information about the scope of the NFCC student loan counseling program can be found at studentloanhelp.org.
The Center for Financial Resources is working to certify more counselors in student loan counseling and encourages everyone currently seeking assistance with student loan debt to reach out to an NFCC® Certified Student Loan Counselor. Take the first step by calling CFR at 605-330-2700 or visiting www.LssSD.org.
Lutheran Social Services is a private non-profit social service agency. Last year, 50,700 lives were touched through a variety of services offered through LSS statewide. Core services offered by LSS include adoption, pregnancy counseling, foster care, kinship services, childcare & education, disaster response, mental health counseling, Fatherhood & Families, Center for Financial Resources, residential services for children & youth, detention alternatives, independent living services for young adults, mentoring, Better Together, and Center for New Americans. LSS serves people of all ages, races, faiths and economic levels with professional, confidential and affordable services. LSS services are licensed by the State of South Dakota and accredited by the Council on Accreditation.