Make Sense of Your Private Student Loans. Then Decide Which Savings Program Option is Best for You
Private student loan debt can be hard to navigate, especially years after college when you're facing high monthly payments, multiple accounts, financial hardship, variable interest rates, or collection communications.
Private Student Loan Solutions helps make the process easier to understand. Start with a conversation about your situation, learn what options may be available, and decide whether a particular service makes sense for you.
Explore Potential Ways to Manage Your Private Student Loan Debt. Depending on your circumstances, options may include debt validation review, loan modification strategies, or consolidation and refinancing considerations through independent network providers.
Start Your Free ConsultationHave Private Student Loans? Let's See What May Be Available.
Private student loan lenders and servicers
Our network may work with borrowers who have private student loans associated with a variety of lenders and servicers, including:
- Sallie Mae
- Navient
- Earnest
- Wells Fargo
- Firstmark Services
- College Ave
- SoFi
- Ascent
- Citizens Bank
- PNC Bank
Don't see your lender or servicer listed? Don't worry. We work with private student loan lenders and servicers, so long as your student loan debt is a private student loan.
See If Your Situation Can Be ReviewedA Simple Process Built Around Your Situation
Take the guesswork out of your next step
You don't need to know which solution you need before contacting us. We'll start with your circumstances and help you understand what may come next.
Talk with a Private Student Loan Advisor
Start With a Free Consultation. Tell us what's happening with your private student loans. During your initial consultation, you can discuss:
- Your current loan balances
- Monthly payment obligations
- Lenders or servicers involved
- Changes in your financial circumstances
- Collection communications if applicable
- Concerns about account information
- Co-Borrower removal from loans
- Variable interest rates on your loans
- Your goals and priorities
The purpose of the initial conversation is to better understand your circumstances and determine whether a further review may be appropriate. No obligation to move forward.
Talk With a CounselorReview Your Potential Options
Find Out Which Services May Fit Your Circumstances. There isn't one answer for every private student loan borrower or cosigner. After learning more about your situation, you may be able to explore potential services offered through independent network providers. These may include:
- Private student loan debt validation review. If a debt collector is attempting to collect a qualifying consumer debt, federal law may provide certain validation rights. A review can help you understand information associated with a collection account and identify questions that may deserve further attention.
- Private student loan modification. Depending on the lender, loan terms, financial circumstances, and available programs, a modification-related strategy may be an option for some borrowers. Potential changes can vary and aren't guaranteed.
- Private student loan consolidation or refinancing. If you're managing multiple loans or considering different repayment terms, consolidation or refinancing may be worth evaluating. The right choice depends on factors such as interest rates, repayment terms, credit qualifications, fees, and the overall cost of repayment.
Understand the Details Before You Decide
Know What You're Agreeing To. If a service appears appropriate, you'll have an opportunity to understand the applicable process before deciding whether to proceed. We believe you should understand:
- What the service is designed to do
- Who will provide the service
- What may be required from you
- How long the process may take
- What fees or costs may apply
- Potential advantages and disadvantages
You make the decision about whether to move forward. Our goal is to give you information you can use to make an informed decision, not pressure you into choosing a service.
Move Forward with Your Selected Service
Take the Next Step with a Clearer Understanding. If you decide an available service is appropriate for your situation, the applicable independent network provider can explain the next steps. Depending on the service selected, you may need to provide documents, account information, financial information, or other materials necessary for the provider to evaluate or administer the service.
The Process Is Personal Because Your Situation Is Personal. Program length, eligibility, requirements, fees, and outcomes can vary. Our objective is to help make the process easier to understand and navigate.
Work Toward Your Financial Goals
Make Progress One Step at a Time. Once you've selected an appropriate service, you'll work through the applicable process with the provider responsible for that service. Depending on your circumstances, the objective may involve pursuing more manageable payments, addressing account concerns, evaluating repayment alternatives, or exploring other available strategies.
Results aren't guaranteed. The time required and outcome achieved can vary significantly from one borrower to another.
How the validation process generally works
If a debt collector is attempting to collect a qualifying consumer debt, federal law may provide certain validation rights. A review can help you understand the information associated with a collection account and identify questions that may deserve further attention.
- 1. Review the validation information. When you receive a collection communication, carefully review the information provided. Pay attention to the creditor, amount claimed, account information, dates, and instructions concerning your rights. Keep a copy of the communication.
- 2. Determine whether you have a question or dispute. You may have questions about whether the debt belongs to you, the amount being claimed, the identity of the creditor, payments or credits, account history, the documentation associated with the account, or other information concerning the claimed debt. Under the FDCPA, a consumer generally has 30 days after receiving the required validation information to dispute the debt or request certain information concerning the original creditor. A dispute can concern the entire debt or only part of the debt.
- 3. Submit a qualifying dispute when appropriate. When a consumer makes a qualifying written dispute within the applicable period, the debt collector generally must cease collection of the disputed debt or portion until it provides the verification or other information required by law. Because timing and requirements matter, consumers should retain copies of what they send and information showing when it was sent.
- 4. Review the collector's response. The response can provide information that helps you better understand the account. Depending on the circumstances, the information may help address questions concerning the creditor, the claimed balance, account identification, payment history, credits or adjustments, the basis for the amount claimed, or other relevant account information.
What Debt Validation Does Not Mean. Requesting validation doesn't by itself mean a debt is invalid. It doesn't guarantee that a debt will be reduced, canceled, settled, discharged, or eliminated. It also doesn't mean every private student loan or every communication concerning a student loan is governed by the FDCPA.
The FDCPA generally applies to qualifying collection activity by covered debt collectors. Whether it applies to a particular situation depends on the facts, the parties involved, the nature of the debt, and applicable federal and state law.
Request a Debt Validation ReviewModification, consolidation, and refinancing
Two more paths some borrowers explore, depending on the lender, terms, and financial circumstances involved.
When Your Circumstances Change, Your Payment May Need a Closer Look
Private student loan modification
A payment that was manageable in the past can become difficult after a change in income, employment, household expenses, or other circumstances. Depending on the lender and available programs, some borrowers may be able to explore modification-related strategies. Potential terms and eligibility vary. A review may consider factors such as:
- Current financial circumstances
- Loan terms
- Payment history
- Current account status
- Income and expenses
- Available lender programs
- Other applicable requirements
Before Combining Loans, Look at the Full Picture
Private student loan consolidation and refinancing
Consolidation or refinancing may seem attractive when you're managing multiple payments, but changing your loan structure can have both benefits and drawbacks. Before moving forward, consider:
- Your current interest rates
- The proposed interest rate
- Fixed versus variable rates
- Remaining repayment period
- Monthly payment
- Total repayment cost
- Co-borrower removal from loans
- Credit requirements
- Potential changes to borrower benefits or protections
A lower monthly payment doesn't necessarily mean a lower total cost.
Review Your Consolidation OptionsPrivate Student Loan Questions Don't Have to Stay Unanswered
We help you take the next step
Understand your situation. Explore your options. Take the next step with greater confidence.