Student Loans – Rehabilitation vs. Consolidation vs. Pay As You Earn

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It has been estimated that as many as 40 million Americans have student loan debt with an average balance of $29,000 [Source]. Being able to pay the debt has become problematic. Many loans are in default due to job loss, lack of disposable income, and skyrocketing penalties and fees on the loans themselves. If you’ve defaulted on a student loan, you’ve seen a negative impact on your credit score just as you would with other types of debt. The looming cloud of paying student loan debt is dark but there are options available including rehabilitation, consolidation, and a pay as you earn program. Rehabilitation of Student Loan Debt Rehabilitation is a one-time only option that can when requirements are met:

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