Can a financial advisor help with student loans?

Can financial advisors help with loans?

Financial advisors can be a great help in getting a handle on debt. They’re experts at helping their clients get their finances in shape for today and the future. They may provide several services, such as investment management, income tax preparation, and estate planning.

Who can help me figure out my student loans?

Identifying Your Servicer

Loan Servicer Contact
Nelnet 1-888-486-4722
OSLA Servicing 1-866-264-9762
ECSI 1-866-313-3797
Default Resolution Group 1-800-621-3115 (TTY: 1-877-825-9923 for the deaf or hard of hearing)

What does a student loan advisor do?

A student loan consultant is a certified industry expert who can help borrowers strategize or optimize their education debt repayment, troubleshooting anything from delinquency to consolidation.

Do financial advisors pull credit?

A common part of financial advisors is helping people build their credit in order to reach their financial goals. In order to do that, they will need to do soft inquiry so they can see what your current credit report looks like.

Do student loans go away after 7 years?

Student loans don’t go away after 7 years. There is no program for loan forgiveness or loan cancellation after 7 years. However, if it’s been more than 7.5 years since you made a payment on your student loan debt and you default, the debt and the missed payments can be removed from your credit report.

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Can I buy my student loan debt?

Student loan settlement is possible, but you’re at the mercy of your lender to accept less than you owe. Don’t expect to negotiate a settlement unless: Your loans are in or near default. Your loan holder would make more money by settling than by pursuing the debt.

How can I get help with student loans?

Most student loan borrowers can get the help they need for free from servicers or at

Find the latest.

Student loan help resource Best for
American Consumer Credit Counseling Advice on repayment plans, help with paperwork and budget counseling.

How much does a financial advisor cost?

Most financial advisors charge based on how much money they manage for you. That fee can range from 0.25% to 1% per year.

Financial advisor fees.

Fee type Typical cost
Flat annual fee (retainer) $2,000 to $7,500
Hourly fee $200 to $400
Per-plan fee $1,000 to $3,000

Can an accountant help with student loans?

Often, borrowers struggle to make sense of their options. This is where CPAs can make a difference. By offering student loan debt counseling as a service, CPAs can help clients and their families better handle their debt.

Do student loan forgiveness programs call you?

Financial schemes and scams were most frequently reported to have stemmed from a phone call. If you get an email, letter or call about student loan debt forgiveness, pause before you send along any of your personal information. It could be a scam.