Some excitement has been generated by the recent decision by the Biden Administration to write off billions of dollars in college debt. People are hoping that the government will make the final big decision to write off all the debt held by college graduates. That sounds like a great opportunity, but we suggest that those with college debt be cautious.
The decision caused great controversy and was not very popular among some groups. It shows that college debt is a complex issue that does not encourage simple solutions. Frankly, there is no guarantee that the government will write off additional debt.
But some people can be lulled into thinking that college debt payments are outdated. That’s understandable, given that a college’s debt moratorium keeps getting extended. A person may be tempted to no longer worry about college debt or, even worse, rely heavily on patience in the hope that by holding out they will eventually benefit from total debt relief. It’s a trap that too many people can fall into.
Debt threatens financial well-being
College debt hangs over the heads of many young employees. Duty forces them to make decisions that will affect their lives for years to come. Many do not understand how to manage their debt and are tempted to make wrong decisions. It is crucial to get the best possible advice.
Nationwide Prepaid Legal Services knows how important it is for anyone to manage their education bills efficiently. Our financial wellness benefit is designed to help people with common money problems. College debt is one of the areas where we offer the right kind of help.
Professionals to the rescue
Countrywide provides the services of a nationwide network of certified advisors. These are money professionals who are familiar with ways to deal with college debt. We have an advisor in every community with a nationwide client base and it’s easy to arrange a conference with an advisor.
Many people are not aware of the various programs available to reduce the amount of debt or reduce interest payments. However, a nationwide advisor is familiar with all of these options.
That expert will advise members of financial well-being on how to ease the burden. Such options as renegotiating the debt payment, forgiving specific amounts and how to qualify for special programs are all advice that the nationwide counselor will give. The intention is to free an individual from the anxiety and stress that such debt creates.
We will always work with the customer
Countrywide hopes to provide an employee benefit that everyone in an organization can use. We want to know what the workforce wants, and potential customer decision makers are the best source.
We will discuss all of our benefit options with management. We will not try to promote one benefit over another and answer all the questions that decision makers may have. We then ask them to select the benefit options they believe will be the best for their employees. The selections will be part of their financial wellness plan, and we will provide administration and membership services.
We also provide courtesy and understanding. College debt is a scary topic for many people and our counselors understand. We recruit the advisors based on financial acumen and personal skills. Every person who is a member of a financial health plan is treated with respect. There is no such thing as a stupid question, and our advisors will provide the best information. People feel comfortable working with Countrywide because they know an advisor will provide workable solutions.
If you have any questions about our financial wellness benefits, please contact us as soon as possible. College debt can seem daunting, but our counselors will tackle the nightmares and offer the right solutions.