Be Wary of a Trap College Debt Can Be Tricky
Some excitement has been generated by the recent decision of the Biden Administration to cancel billions of dollars in college debt. People are hoping that the government will make the final big decision to cancel all the debt held by college graduates. It sounds like a great possibility, but we suggest those with college debt be careful.
The decision caused considerable controversy and was not very popular with certain groups. It shows that college debt is a complex issue that does not encourage easy solutions. Frankly, there is no guarantee that the government will cancel any more debt.
However, some people may be lulled into the thought that college debt payments are outdated. It is understandable, given that a college debt moratorium keeps being extended. A person may be tempted to no longer worry about college debt or, worse still, rely heavily on forbearance in the hopes that by holding out, they will eventually benefit from total debt cancellation. That is a trap that too many people may fall into.
Debt Threatens Financial Wellness
College debt hangs over the head of many young employees. The obligation is causing them to make decisions that will impact their lives for years to come. Many do not understand how to manage their debt and are tempted to make the wrong decisions. It is crucial to get the best possible advice.
Countrywide Pre-Paid Legal Services knows how important it is for anyone to manage the bills due on education effectively. Our financial wellness benefit is meant to help people with common money problems. College debt is one of the areas where we offer the right kind of assistance.
Professionals to the Rescue
Countrywide provides the services of a nationwide network of certified counselors. These are money professionals who are familiar with ways to handle college debt loads. We have a counselor in every community with a Countrywide client and arranging a conference with a counselor is easy.
Many do not know of the various programs available to lower the debt amount or decrease the interest payments. However, a Countrywide counselor is familiar with all these options.
That expert will advise financial wellness plan members on how they can lighten the load. Such options as a renegotiation of the debt payment, the forgiveness of specific amounts, and how to qualify for special programs are all pieces of advice the Countrywide counselor will offer. The intention is to free an individual of the anxiety and stress such debt creates.
We Will Always Work with the Client
Countrywide hopes to provide an employee benefit everyone in an organization can use. We want to know what the workforce wants, and the decision-makers of prospective clients are the best source.
We will discuss with the management all our benefit options. We will not try to market one benefit over another and answer all the questions the decision-makers might have. We then ask them to select those benefit options they feel will be the best for their employees. The selections will be part of their financial wellness plan, and we will provide the administration and member services.
We also provide courtesy and understanding. College debt is a scary topic for many people and our counselors understand. We recruit the counselors based on financial acumen and people skills. Every person who is a financial wellness plan member is treated with respect. There is no such thing as a stupid question, and our counselors will provide the best information. People feel comfortable working with Countrywide because they know a counselor will provide workable solutions.
If you have any questions about our financial wellness benefits, please contact us at your earliest convenience. College debt can appear frightening, but our counselors will address the nightmares and offer the right solutions.
