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Student Loan Debt Repayment Resources


Student loan debt repayment is a growing need. Student loans deferred previously due to Covid-19 are now due effective October 2023.


Whether your client is investigating income based payments (IDR) to qualify for a mortgage or has a mortgage and would like to escalate the payoff, both options for government student loans can be done through Student Debt Solutions (SDS) connected through the HomePrep platform.


Navigating through these options can be done with the Student Debt Solutions DIY platform. If your client is in need of more in-depth help, this is available through HUD counseling agency Consumer Debt Counselors using the Student Debt Solutions platform, all through HomePrep.


Jan. 17, 2024 Brokers and Bagels webinar: Student Loan Repayment Plans with Student Debt Services (SDS) Now Added to HomePrep!

Student Debt Solutions Demo...See how it works! video

Welcome to Student Debt Solutions!

video

How to get Your Student Loan File from Studentaid.gov video


Student Loan Repayment

DIY Solutions

If you want to manage your student loan debt on your own, there is a federal government resource at Studentaid.gov.

If you want to explore all options available, Student Debt Solutions can help.

Learn More

Consumer Debt Counselors use Student Debt Solutions

Looking for student loan debt relief with a HUD counseling agency? Consumer Debt Counselors, a HUD approved counseling agency, offers personal guidance using the Student Debt Solutions tool to help you understand options.

Learn More

Consumer Debt Counselors

A great resource is Consumer Debt Counselors, a HUD non-profit credit counseling agency that can provide all options available using the Student Debt Solutions tool. This can help a client find relief whether the student loan payment is current or in default. The client uses the self-help platform to find a repayment plan. There is no cost unless the client wishes to proceed with the plan. The cost for this service is $99.00

If the client needs additional live help with a counselor trained in student debt help, one-on-one counseling is available for an additional $99. Call 800-820-9232 or sign up at ConsumerDebtCounselors.com. This service is available in all 50 states.
Consumer Debt Counselors, Inc., is a fully accredited, licensed and bonded 501(c)(3) nonprofit agency that assists people with debt- and credit-related issues. We help you understand your credit report, resolve issues with unsecured debt (such as credit cards) or student loans, understand your rights and options when it comes to your mortgage, and help you prepare your credit and get down-payment assistance where available for your first home.

DIY Student Loan Repayment Solutions

"I want to figure it out myself."

There are a lot of choices if you want to manage your student loan debt on your own. The federal government provides many tools and resources on Department of Education (ED) websites like the Federal Student Aid website, Studentaid.gov. If you have a pretty straight-forward situation, it's totally doable.

Pros

  • Most federal sites and federal servicers have neat tools that can help you identify your options.
  • There is a ton of information available to you.
  • Free!


Cons

  • There is seriously a ton of information available to you. It can be overwhelming.
  • Most tools and calculators focus on payments, not cancellation or forgiveness programs.
  • There isn't a comprehensive tool. The tool on Studentaid.gov, for example, is "five steps or less." This barely scratches the surface of eligible options.

"I'd like to explore all of my student loan repayment options."

Student Debt Solutions (SDS) is a self-help application for clients who have student loans to find ways to reduce Student Loan monthly payments. 

SDS was developed by Non-Profit Counselors with a focus on finding every option a client is eligible for, including income-based payment reduction, forgiveness, cancellation and loan acceleration. 

The cost for this service is $99. However, you see the options 1st before you decide to proceed! 

If you see a benefit you like and want to proceed, then your SDS payment will provide you with all of the forms and instructions to take action on your new repayment plan. 

You will receive an email from SDS to get you started.                     


If you are having a hard time getting started on your own, Consumer Debt Counselors, a HUD counseling agency that specializes in student loan debt relief, uses Student Debt Solutions to analyze federal student debt and identify all eligible options in just minutes. A HUD counselor can assist you for an additional cost.

Pros

  • Cuts through the ridiculous amount of regulation quickly. Student Debt Solutions looks at over 700 different options using a recursive logic engine that filters questions that are relevant to you in about 20-25 questions.
  • You get a customized report that identifies your eligible solutions so that you can focus your attention on making the decision that is best for you.


Cons

  • Not free, but it is a good value. Cut down hours of research!
  • Your report with your eligible solutions may still be overwhelming. Especially if you're in a more complex situation like a default.

Click Below to Get Started & Download FAQ's

Qualifying For A Mortgage With Student Loans

Mortgage Underwriting Criteria of Student Loans for all Mortgage Types


Conventional Freddie Mac:

Freddie Mac Selling Guide 


Conventional Fannie Mae:

Fannie Mae Selling Guide

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