Category Archives: Pay off student loans

New Federal Student Loan Forgiveness Programs

Student Debt Advocates Advises Borrowers on New Federal Student Loan Repayment and Forgiveness Programs

New regulations brought forth by the Obama administration make it much simpler for borrowers that are permanently disabled to qualify for student loan discharge. Student Debt Advocates has advised over 15,000 borrowers on repayment and forgiveness options.

Brooklyn, NY – April 18 – President Obama and his administration plan to forgive $7.7 billion in federal student loans held by Americans that are currently disabled. The student loan debt burden has been a huge problem for individuals that are permanently disabled. Even with programs existing that allow for these debts to be forgiven, hundreds of thousands of borrowers simply don’t know that this program exists nor how to apply.

With this new update, The U.S. Department of Education and President Obama took steps to help these individuals. Working hand in hand with the Social Security Administration, the department has been seeking out borrowers that are receiving disability payments and have the status of ‘Medical Improvement Not Expected’. There have been a total of 387,000 matches out of which 179,000 are currently in default and at risk of having their social security benefits as well as tax returns garnished.

Student Loan Forgiveness
Effective this week, borrowers who are in this group will receive a letter from the government outlining the steps needed to receive a discharge and total forgiveness of their federal student loan debt. The process for discharge is much simpler than it used to be in the past with no proof of disability needed. Borrowers who receive this letter will simply need to sign it and send it back.

While this new change is a great step toward helping Americans tackle their student loan debt, the $7.7 billion is only half of one percent (.5%) of the total $1.344 trillion in federal student loan debt. Aside from this program there are other options available for borrowers that do not fit this criteria. Income driven repayment and forgiveness plans have been gaining popularity and helping millions of borrowers drop their monthly payment to as little as $0/month.

Student Debt Advocates has been advising borrowers on such repayment and forgiveness plans for multiple years. With over 15,000 people that have been advised, there has been real steps toward made toward making a dent in the student loan debt load burden that borrowers have struggled with. Individuals that are interested in obtaining further information can reach out to Student Debt Advocates by calling (800) 272-5308 or visiting

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Student Debt Advocates
+1 8002725308

Student Loan Debt Continues To Rise Faster Than Income

Freedom Financial Network Continues to Urge Consumers to Spend Conservatively

FFN Quarterly Comment: Debt continues to rise faster than income increases.

San Mateo, CA – September 11 – When it comes to the nation’s economic recovery, the summer of 2014 was hot, from real estate prices to auto sales to credit card debt, notes the Freedom Financial Network Quarterly Comment on consumer debt and credit issues.

Freedom Financial Network observes several economic indicators closely and provides consumer education in its work to help consumers get out of debt and stay out of debt.

“In the past quarter, consumers continued to respond to a healthier economy by dusting off credit cards and replacing vehicles,” said Kevin Gallegos, vice president of Phoenix operations for Freedom Financial Network (FFN). “This optimism is heartening, but we caution consumers to remember the lessons of the past economic downturn and prepare for the future. Fortunately, we’re seeing a hint of this caution as people saved a higher portion of their income this summer.”

In July, non-revolving consumer debt increased by more than 10 percent compared to this time last year. The increase was driven in part by motor vehicle sales that were more than 5 percent higher than last year and 10 percent higher in August than in July. Hand in hand with those sales are increases in auto loans with terms of six to seven years. Experian Automotive data show that nearly 25 percent of all new-car loans were for 73-84 months in the first quarter, up from just 10 percent four years ago.

“Those new vehicles on the road might be good for the U.S. economy, but consumers need to be cautious when evaluating whether a purchase – of a car, home, vacation, education or other goods – will be good for their personal economy,” added Andrew Housser, FFN co-founder and CEO. “We become concerned when we see debt increasing at a double-digit rate, while income increases at a tenth of that pace.”

Recent financial data as reported:

1.    Total consumer debt continues to skyrocket compared to past years. In July (the most recent data available), consumer credit rose by 9.75 percent, year over year. With the increase, total consumer debt (excluding mortgage debt) is projected at $3.238 trillion, which is $16 billion higher than the previous month. This makes 32 consecutive months of record highs.

2.    Revolving debt also climbing. In July, total consumer revolving debt, which includes credit card debt, rose 7.4 percent. The total amount of revolving debt held by U.S. consumers was $880.5 billion, or $5.3 billion higher than in June.

3.    Personal income rising, but slowly. In July (the most recent data available), personal income rose by $28.6 billion, or 0.2 percent. Disposable personal income rose $17.7 billion or 0.1 percent, the Bureau of Economic Analysis reports.

4.    Unemployment stays put. The U.S. Bureau of Labor Statistics reports the national unemployment rate was 6.1 percent in August, little changed in recent months.

5.    Consumer savings improved. In July, consumers saved 5.7 percent of their income, up from rates in the 3 percent range several months ago.

The FFN Quarterly Comment pulls together significant statistical releases and provides quarterly comment on timely debt and credit issues that matter to consumers. To schedule an interview with Kevin Gallegos or Andrew Housser, contact Aimee Bennett at 303-843-9840 or aimee(at)faganbusinesscommunications(dot)com.

Freedom Financial Network (
Freedom Financial Network, LLC (FFN), provides comprehensive consumer credit advocacy services. Through the FFN family of companies – Freedom Debt Relief, Freedom Tax Relief, ConsolidationPlus, FreedomPlus and – FFN works as an independent advocate to provide comprehensive financial solutions, including debt consolidation, debt resolution, debt settlement and tax resolution services for consumers struggling with debt. The company, which has resolved more than $3 billion in debt and assisted more than 265,000 clients since 2002, is an accredited member of the American Fair Credit Council, and a platinum member of the International Association of Professional Debt Arbitrators.

Based in San Mateo, Calif., FFN also operates an office in Tempe, Ariz. The company, with 650 employees, was voted one of the best places to work in the San Francisco Bay area in 2008, 2009, 2012, 2013 and 2014, and in the Phoenix area in 2008, 2009, 2010, 2012 and 2013. FFN’s founders are recipients of the Northern California Ernst & Young Entrepreneur of the Year Award.

Contact Information
Aimee Bennett
Freedom Financial Network, LLC
+1 303-843-9840

Best State to Pay Back Student Loan

Utah is the Best State to Pay Back Student Loans, Maine is the Worst

A new study of student loan debt, job markets, earning potential and cost-of-living found that Utah is the best state for college graduates to repay student loans, while Maine is the worst.

Foster City, CA – September 15 – With growing job opportunities, strong scores in earning potential, and low cost-of-living rates, Utah tops the list as the best state for graduates to repay their student loans, according to the 2014 Best States to Repay Student Loans study. Maine ranked as the worst, based on high debt-to-income ratios, above-average percentage of residents with student loan debt, and a bottom five ranking for average income.

Utah ranked in the top 10 nationally in every category, including a No. 7 ranking for average income and No. 4 for debt-to-income ratio. Wyoming took the No. 2 spot thanks to low unemployment rates, lower than average student loan debt amounts and a No. 2 rank nationally in student debt-to-income ratio. Washington came in third due to its No. 1 ranking for annual income and top three score for student debt-to-income ratio.

“Although the average debt burden varies state-by-state, the national average amount of student loan debt is nearly $30,000 and college graduates are feeling the pressure of those loans,” says Michelle LaFrance, Web Producer of “The best states for repaying student loan debt relieve that pressure by offering college graduates opportunity in the form of growing job markets, competitive salaries and perceived impact of student debt: cost-of-living coupled with earning potential.”

Meanwhile in Maine, the combination of bottom three ranking nationally for student debt-to-income ratio, the second worst annual average income and average student loan debt near $30,000, resulted in the state’s ranking as the worst state for repaying student debt. Rhode Island is the second worst state due to its high cost-of-living and bottom five scores in annual average income and student debt-to-income ratios.

Iowa followed Rhode Island, ranking in the bottom five nationally for average annual income, student loan debt-to-income ratios, average student debt amounts and percentage of students with debt.

“Indeed, it remains a tough economy for many states,” notes LaFrance. “Students may need to consider relocating or broadening their job search to other areas for better employment opportunities that allow them to pay down their loans as quickly as possible.”

Here are the 10 best U.S. states to repay student loans in 2014, according to the Best States to Repay Student Loans study:

1. Utah
2. Wyoming
3. Washington
4. Nevada
5. Virginia
6. Tennessee
7. California
8. Colorado
9. Kansas
10. Texas

Here are the 10 worst U.S. states to repay student loans in 2014, according to Best States to Repay Student Loans study:

1. Maine
2. Rhode Island
3. Iowa
4. New Hampshire
5. New Jersey
6. Pennsylvania
7. Vermont
8. Mississippi
9. West Virginia
10. Montana

For additional details on this study, please see the articles on the Best States to Pay Back Student Loans and Worst States to Pay Back Student Loans for 2014.


This analysis of the Best and Worst States to Pay Back Student Loans is based on each state’s Economic and Arrears Factor, a proprietary metric developed by that considers the following:
Average salary, according to figures from the Bureau of Labor Statistics (BLS), 2013
Cost of living, based on data from C2ER, 2014
Unemployment rate, based on figures from the BLS, June 2014
State-level student debt statistics, based on figures from the Project on Student Debt, 2012
Student debt-to-income ratio, based on data from the BLS and the Project on Student Debt, 2012
Likelihood of having debt, based on figures from the Project on Student Debt, 2012
Student default rate by state, based on data from the Department of Education, 2013 is a resource for the career-minded student. With industry leading information on education and career opportunities in the U.S. and Canada, provides students and prospective students with the right information to help them advance their education and career. Featuring in-depth information on popular degrees and certifications, careers and industries, and college and education news, the site is a higher education resource for the career-seekers and career-changers. is owned and operated by QuinStreet, Inc. (NASDAQ: QNST), one of the largest Interneuuwt marketing and media companies in the world. QuinStreet is committed to providing consumers and businesses with the information they need to research, find and select the products, services and brands that meet their needs. The company is a leader in visitor friendly marketing practices. For more information, please visit

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