Student Loan Debt Workshops | Local news
MADISON – The Wisconsin Department of Financial Institutions (DFI) and the Wisconsin Department of Agriculture, Commerce, and Consumer Protection (DATCP) have announced that they are hosting free online workshops on debt relief. student debt on January 20 and 21. These workshops will help student borrowers prepare for the end of the May 1 federal student loan payment break.
“With the resumption of student loan repayments in May, it is more important than ever for borrowers to explore their student loan repayment options and establish a repayment plan today,” said DFI secretary , Kathy Blumenfeld. âBorrowers should take the time now while payments are still paused to review repayment options such as income-based repayment plans, which can reduce monthly payments, and verify their eligibility for loan cancellation. student. Not waiting until the last minute to make a plan is important and will help ensure a smooth return to repayment. “
“As student loan repayments resume, borrowers should watch out for dishonest offers of loan cancellation or consolidation savings from debt relief scammers,” said DATCP secretary , Randy Romanski. âBorrowers who have questions should attend these information workshops to learn more about the many resources consumers can access without paying a fee. “
In these workshops, student loan borrowers will learn about current scams to avoid and how to use the free Wisconsin Strong student loan repayment tool, created by Savi.
Savi’s student loan experts will answer questions about student loan repayments and explain how their tool can help borrowers navigate the complexities of federal student loan repayment plans, forgiveness programs, and reducing loan repayments. student loans. Using Savi’s tool can help borrowers lower their monthly payments and optimize their repayment plans.
On average, users of this tool save $ 156 each month and have a lifetime savings of $ 28,308. Student loan borrowers can find additional free repayment resources on the DFI website at LookForwardWI.gov.
DFI and DATCP are encouraging student loan borrowers to create a repayment plan now to help ensure a smooth return to repayment and be wary of fraudsters who take advantage of this transition period. Borrowers with questions are encouraged to call the Wisconsin Student Loan Helpline at 833-589-0750 or contact Federal Student Aid.
Student loan borrowers who have been the victims of a scam should report it by filing a complaint online, sending an email to [email protected], or calling the Child Protection Hotline. DATCP consumers at 800-422-7128.
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