10 Signs Your Student Loans Are In Good Shape Pt. 2

10 Signs Your Student Loans Are In Good Shape

In the previous post, we went through the first 5 signs to see if your student loans are aligned.  At this juncture, if you are still reading you are pretty confident that your student loans are aligned and you just want to make sure, or you are thinking I need to do something here, let me keep reading.  Below you will see reasons six through ten.  Remember we are here to give you some pertinent information and assistance if you would like, let us know….

#6 THEY’RE QUALIFIED FOR STUDENT LOAN FORGIVENESS

If you work as a public servant or you're someone that is experiencing financial hardship, you may be eligible for loan forgiveness.  If you know this you are on the right track.  We can assist finding out if you qualify. This is important because sometimes you may have a loan that does not qualify for this forgiveness, and you may need to consolidate to make your loans eligible.

# 7 THEY'RE NOT IN DEFAULT

Believe it or not, there are some borrowers out there that have student loans in default and they don’t even know it.  This is not where you want to be because when you're in default, your loans are disqualified for forgiveness and you can have your wages garnished from your paycheck. If you are in default now, don’t hesitate, take immediate action so we can get you back on the right track.  Once you take the action you will soon realize very clearly, that it was not that big of a deal and you could have taken action a lot sooner.  As a parent mentor or teacher said to you once or many times, “don’t procrastinate!”

#8 YOUR MONTHLY PAYMENT IS GREATER THAN YOUR INTEREST

You may want to say hello to Captain Obvious but when the interest that is accruing on your student loans is great than your monthly payment, guess what, your term is increasing, and sometimes it can result in what we call a Forever Loan.

How many bankers do you know wish all their loans were like that. Again there are people out there where this is happening and in most cases, they don’t even know it.  Let’s hope you are not one of them.  If you don't panic we will provide you with the right information and the right plan of action to get you back on track.

#9  THEY’RE CONSOLIDATED ALREADY

This is where you want to be.  If you are there you probably already know it.  Congratulations.

Here are the question and answer of the day.  How do you know if your student loans are consolidated?  Answer: If you have to ask, then chances are they are not.  That is the simple answer.  We will show you shortly how to find out very quickly if they are so you can confirm or find out that you need to get them consolidated.  By consolidating you will be saving money, qualifying your loans for forgiveness and potentially shaving years off of your loan.

#10 YOU ARE NOT STRESSED ABOUT THEM

Chances are if your loan is in great shape you have most if not all of the above and you also have your loans set up on an automatic payment each month.  So really the only time you think about your student loans is when you check your monthly balance and see that the automatic withdrawal has been taken out...next.  If you're there, congratulations again.  If you are currently stressed out, it’s ok, we can correct it and get everything straightened out.  It won’t happen overnight, but imagine the relief you will feel once you take a step in the right direction.

If you've read this far you are feeling one of four emotions.  First, you may be saying to yourself, I am in great shape and I have nothing to be concerned about.  Secondly, you may be thinking, hmmm, I better take a look at my student loans and make sure everything is lined up, it doesn’t hurt to check.  Third, your mindset is you are frustrated or stressed out because you know your loans are stressing you out each month and you know you need to do something.  And finally, you are in a mindset where you know you have to do something but you don’t know where to begin and are in a state of decision paralysis.  Don’t panic you're in the right place and here’s why…

The Student Loan Academy was created with you in mind, regardless of where you're at with your student loans or where you think you might be, we can help even if it is just giving you peace of mind knowing you have done everything to get your student loans aligned.

However, if you are like the tens of thousands of borrowers that qualify for student loan forgiveness take the first step in finding out what you can do for yourself and get your student loans aligned.  You are not alone when you partner with us, we are here to assist.  

One year from today, you will certainly “arrive”. The real question is… Where? If you wanted to be somewhere different than where you are now, you’ll have to do something different than what you’re currently doing. Take the first step toward a different future, and check out the Student Loan Academy.

Click Here to join the Student Loan Academy!