Products & Services News (06-01-12) |
View 06-01-12 issue of The Pulse
LSS Financial Counseling Service can offer expert coaching on all debts, including student loans. The first step is "know what you owe.” Financial counselors can help access both the federal portal and credit reports to see the big picture. It is especially important for families to understand the dangers of default, the special rules for private student loans, and which options for repayment are the best fit for their situation. The second step is "make a plan.” One popular new option is IBR, or income-based repayment plan, which adjusts payments yearly based on income and family size. There are also options to bring loans out of default and even (more rarely) paths toward discharge or cancellation of student loan debt. The key is budget and debt counseling to make repayment plans realistic and in context. To discover how your credit union can benefit from LSS financial wellness products and services, contact MnCUN Vice President – Network Service Corporation John Ferstl by email or (651) 288-5505.
CU Succeed offers two youth programs to credit unions: Check out CU Succeed today and discover how they can help you build the next generation of credit union members. For more information, contact MnCUN Vice President – Network Service Corporation John Ferstl by email or (651) 288-5505. |