The quality of student loan advice you get from a consultant or financial professional can vary considerably. As a result, finding qualified student loan counseling services to help with your education debt can take time and effort. When hiring a consultant to help with your situation, look for these three factors.
Specialized certification: A financial advisor or other professional doesn’t need specialized training to help student loan borrowers. However, the student loan system is complex, and the options available to solve issues are many. Ideally, the hired person will have undergone rigorous training through a licensure or certification program like the CSLP®.
Prolonged experience: With student loans being a hot button issue in America, all types of businesses are popping up, claiming they’re capable of helping with your financial situation. To avoid being a scam victim, check to see how long the consultant has been helping student loan borrowers, what type of people they’ve helped, who their average client is, and what type of problems they’ve solved.
Client testimonials: Read the advisor’s online reviews. Pay special attention to the negative feedback or the absence of it. If an advisor’s been doing this long enough, someone, somewhere, will have shared critical feedback — no matter how great the advisor. See how the advisor addressed the critique. In addition, ask if they can share case studies or video testimonials from previous clients.
For example, here’s a video from a woman I helped settle $187 thousand in private student loan debt for $50 thousand over a few years instead of a lump sum payment.