The fall school semester is coming to a close. For college students, it might mean the need to search for scholarships and/or renew their student financial aid. Beginning as early as October 1, you can apply for student aid through the Free Application for Federal Student Aid (FASFA), a form filled out annually for current and prospective college students. This may also mean taking out a student loan or adding to those you have already have.
There are approximately 44 million Americans with student loan debt. When it comes time to start repaying it back, you may be in a financial predicament if:
- you have not yet obtained employment after you graduated,
- you are employed, but your salary doesn’t cover all your current expenses,
- you are suffering a financial hardship and can’t make student loan payments right now and your payments become delinquent.
It is important to know your rights and payment options. To get more information, contact the Department of Business Oversight (DBO) at 1-866-275-2677, or go to http://cdbo.info/studentloans. Become familiar with student loan terminologies as well as the DBO’s student loan alert.
Student loan borrowers may be looking at help on the horizon … https://www.forbes.com/sites/adamminsky/2019/10/22/this-big-court-decision-may-help-student-loan-borrowers/#650143e53188