CCCS-OC Helping to Create Largest National Alliance of Certified Student Loan Counselors to Help Struggling Borrowers
Struggling student loan borrowers in today's market often do not know where to turn. There is no established student loan counseling provider, and many clients receive misleading information from servicers and debt collectors. Along with the National Foundation for Credit Counseling (NFCC), CCCS-OC is taking the lead in providing real solutions to this pending national crisis.
Student loan debt recently surpassed credit card debt at $1.3 trillion, and is now second only to mortgages in terms of total consumer debt. Among the 43 million total federal student borrowers, 7.3 million are at least 90 days delinquent on their loans, 5 million are in default and millions more are in negatively-amortizing income-driven repayment plans. These figures indicate that student debt is likely to drive the next major financial crisis affecting millions of Americans, with spillover effects already impacting the market for homes, cars, and basic consumer goods and services.
By this fall, CCCS-OC's counselors will have completed groundbreaking additional specialized training and certification that covers the complete inventory of student loan programs associated with repayment, forbearance, or other forgiveness options. Along with the credit and housing counseling certification they already possess with the highest standards, they will have the most thorough and comprehensive certification process for student loan counselors in the country.
Those who receive counseling from them will benefit from a thorough financial review that will identify options based on their unique circumstances and individual needs. This holistic approach, already a standard among NFCC counselors, will empower borrowers to make informed decisions about their student loan repayment options and take charge of their financial lives.
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Consumer Credit Counseling Service
1920 Old Tustin Ave.
Santa Ana, CA 92705
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P: (800) 213-2227
F: (714) 245-1680
E: cccsoc@cccsoc.org
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