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Bad Credit Loans – HIGHEST APPROVAL – Personal Loans Online, bad debt loans.#Bad #debt #loans

bad debt loans

Bad debt loans

Bad debt loans

Bad Credit Loan Center ™

At Bad Credit Loan Center ™ we believe in second chances. We know that good people do fall on hard times and in this economy it s not easy to find help.

Our goal is to make your process of finding online loans as stress free and easy as possible. Whether you re looking for a cash loan, an auto loan, debt consolidation or credit cards we can help.

It takes less than 3 minutes to complete an application and usually with in a couple hours a lender will contact you if you re approved. It doesn t matter if you re looking for bad credit loans or good credit loans we can help you find a lender. Bad Credit Loan Center ™ provides a payday loan matching service only and is not a lender.

For personal cash loans just click the Apply Now button directly above. You will instantly be taken to our partners 256bit COMODO ™ encrypted secure application.

If you re looking for an auto loan, debt consolidation, bad credit personal loans or credit cards please use the navigation bar at the top of this page. For more information about us or loans for bad credit please visit the about link in the footer of this page.

Bad credit loans should be used responsibly. You will be required to repay your loan on time to avoid extra interest or fees. Personal loans for people with bad credit that offer monthly payments may be available please consult your lender.

Loans are not available in all states even if you apply on the internet. All short term lenders have the right to run your credit if they deem it necessary.

Bad debt loans

3 Simple Steps to Obtain Your Loan

Bad debt loansPre Qualify: To pre-qualify for payday loans online you must have income of $1000 dollars per month and be at least 18 years old. Your income can come from a job, benefits, disability or anything along those lines.

Bad debt loansComplete the Application: We utilize a short and easy fast loan advance application. It only takes a couple minutes to complete! It doesn t get any easier than this to get up to $1000 dollars today.

Bad debt loansGet Your Cash: Once a lender match is found and you re approved your payday loans will be deposited the same business day if time permits. It usually only takes a few hours from application to cash in hand!

Debt consolidation loan, Barclays, unsecured debt consolidation loans.#Unsecured #debt #consolidation #loans

Debt consolidation loans

All your debts in one manageable loan

If you’ve borrowed from different lenders, a debt consolidation loan could help you take control of your finances and keep track of your money.

Loans are subject to status. Early settlement fees apply.

✔ Manage your debts with just one loan 1

✔ Quick and easy application

✔ Personal price quote – with no credit footprint 2

0 APR Representative

over 2-5 years. (Your rate may differ 3 )

Take control of your debt with a Barclayloan

Having just one loan could be more straightforward and easier to manage than a number of payments to different lenders.

But it’s worth noting that consolidating debts might involve payment of a higher rate of interest or charges – or both. Consolidating debts might also increase the overall period required for repayment.

Debt consolidation overview

Discover your loan rate without affecting your credit score

Knowing how much you can borrow really helps when consolidating your debt. And, unlike some other lenders, in many cases we can give you a personalised price quote up front – without impacting your credit score. To find your loan rate, simply log in to Online Banking or Barclays Mobile Banking, if you’re registered 2 .

You could get your money straightaway

It’s quick and easy to apply and, if your loan application is approved and you’ve signed your loan agreement online, the debt consolidation money is usually transferred to your current account within a few minutes 4 .

If you take out a Barclayloan and another lender offers you a like-for-like unsecured loan with a lower APR, you can claim under our guarantee – within 30 days of the date we signed your Barclayloan agreement.

We’ll reduce the interest rate to produce an APR equal to the competing offer and recalculate your monthly repayments to reflect the reduced interest rate. Please read our full price guarantee terms and conditions.

Fixed monthly repayment

This could help you budget.

Choose your payment term

Depending on the loan amount.

Already have a Barclayloan and need more funds? You can apply to increase your borrowing with us.

If you just want to take out a second loan instead of topping up, that could be an option too.

Repaying your loan early

You have the right to repay your loan early, in part or full, at any time. We’ll charge a fee equal to 30 days’ interest on the amount you’re repaying, as well as any other interest that’s due.


To apply online, you’ll need to:

✔ A Barclays current or savings account, mortgage or Barclaycard

✔ To be aged 18 or above

You can use your loan for almost anything, apart from:

  • Business reasons
  • Investments, including buying stocks and shares
  • Timeshares
  • Purchasing property (home improvements are fine)
  • Gambling-related expenses
  • Repaying CCJs (county court judgments)
  • A purchase made by combining this loan with any others

Resume an application

If you’ve already started a loan application and have saved your progress, it’s easy to pick up where you left off.

If you applied via Online Banking

Log in to Online Banking here, and we’ll take you straight to your saved application.

If you used our online application form

If you started your application via our online form, we’ll have sent you an email with your reference number. You can enter the number here.

Our lending commitments and what we ask of you

As a lender, we have a responsibility to act fairly and as part of this we have committed to follow the Standards of Lending Practice. This note sets out some of our key responsibilities and what we ask of you, to ensure that the relationship works well for both of us.

  • We will lend responsibly and aim to provide a product that is affordable for you.
  • We will provide you with information about our products and services and how they work, in a clear and understandable way, so that you can decide what’s best for you and your needs.
  • We will endeavour to make sure our products and services offer, wherever possible, the flexibility to meet your needs.
  • We will treat you fairly and reasonably at all times and make sure that you are provided with a high level of service.
  • If you tell us about any inaccuracies, for example around the personal information we hold about you, we will act quickly to put it right.
  • We will always aim to help you if we see, or you tell us, that you are having trouble financially. We will seek to understand your overall circumstances, try and identify options that you can afford and where appropriate, provide a reference to free debt advice.

What we ask of you

  • We ask you to think carefully about whether you can afford to repay the money you want to borrow and to be open in your dealings with us.
  • Take care of any cards, PINs, online log-in details and other security information to help prevent fraud and help us to protect your accounts.
  • Tell us as soon as possible if your card has been lost or stolen, or if you know or suspect someone is misusing your confidential information e.g. your PIN or online log-in details.
  • Carefully check your account statements to make sure they are accurate. If anything isn’t right, please get in touch with us.

Please let us know if

  • Your contact details change, so we can keep our records up to date.
  • Your circumstances change, particularly if what’s happened is likely to cause you difficulties in managing your account or financial problems.
  • You think that you won’t be able to keep up with your repayments. The sooner you do this, the more likely it is we’ll be able to find a way to help you.

We would also encourage you to refer to the terms and conditions associated with your current account, credit card or personal loan.

AAA Debt Managers: Personal Debt Consolidation – Credit Counseling in Canada, unsecured debt consolidation loans.#Unsecured #debt #consolidation #loans

Unsecured debt consolidation loans

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Unsecured debt consolidation loans


Nobody needs constant calls from creditors and sleepless nights. So you’ll be glad to know one call to one of our licensed professionals you’ll see how you can become debt free, and worry free.

Unsecured debt consolidation loans

HOW WE HELP Our Services

With 20 years of proven Debt Management Programs and great service options we’ll help you pay down your debt and restore your credit and show you how we “manage your debt so you can manage your life”

Unsecured debt consolidation loans


We’ve helped thousands of Canadians get out of debt in less time and for less money. We know what it takes to build a program that works. Start here to find out if you qualify. Call 1-800-774-5779 or chat online.

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GET OUT OF DEBT How it works*

Depending on your particular situation, Debt Management can be a great option for debt relief as it doesn’t require a loan and you can drastically lower your monthly payments, lower interest rates, and pay it off quicker than if you tried on your own.

Debt Management is a consumer relief program whereby we arrange with your creditors to substantially reduce your interest rates and monthly payments on unsecured debt (such as credit cards), allowing you to avoid bankruptcy and the adverse effects it can bring to your credit rating. Debt Management can reduce your total debt owed including interest by as much as 60%, while lowering your monthly payments during the process.

Is Debt Management right for you?

Debt Management is suitable for unsecured debts, such as credit cards bills. It does not apply to secured debt (like a mortgage) because if you default on the loan, creditors will be able to get their money back from the sale of your assets. Debt Management is right for indviduals or familites who:


Find Out If You Qualify. Call 1-800-774-5779

DebtManagers acts as a mediator between you and your creditors, negotiating a new repayment schedule on your behalf, reducing interest rates and monthly payments by up to 60%. For nearly 20 years we have assisted thousands of Canadians Coast-to-Coast in eliminating consumer debt and rebuilding credit.

As you can imagine, each debtor’s situtation is unique, so the only way to determine if you qualify for this debt management program is to schedule a debt assessment with one of our experienced debt advisors. To find out if you qualify call 1-800-774-5779 or fill out the form above for a free, no-obligation and confidential debt assessment.


  • Unsecured debt consolidation loans

Stop Creditor Calls

Our relationship with creditors means we can silence collection agency calls.

  • Unsecured debt consolidation loans

    Make One Payment

    We’ll consolidate your debt into one monthly payment based on what you can afford.

  • Unsecured debt consolidation loans

    Balanced Budget

    We’ll work with you to find ways to save money and balance your budget.

  • Unsecured debt consolidation loans

    Eliminate Interest

    Our vast network of creditors means we can eliminate or drastically cut interest.

    Unsecured debt consolidation loans

  • Debt Consolidation, Best Online Advice for personal loans, unsecured debt consolidation loans.#Unsecured #debt #consolidation #loans

    Free Ebook

    your loan approved

    Unsecured debt consolidation loansWhat is loan consolidation?

    Loan Consolidation is a process by which you take all your existing credit agreements and roll them into one loan. In order to reduce the total monthly payment, consumers often stretch it out over the longest period possible, typically 5 years or 60months.

    One should take not of the fact that one is usually therefore swopping certain existing credit facilities like Credit Cards and overdrafts for a higher interest rate loan. Consolidation loans are therefore usually granted after the maximum credit facilities have been taken up, with affordability being the most common factor for declines. It is also very important to remember that the Credit Facilities, like credit cards and overdrafts, aren’t automatically closed when one transfers the payment received from the consolidation loan. Fees and account charges can easily keep the account active.

    It is imperative that the consumer closes any accounts they are not using to avoid unnecessary debits. Download our eBook which contains valuable information on credit score.

    Our Free Workshops

    Unsecured debt consolidation loansWe currently do talks around financial wellness to the staff of financial institutions like ABSA and Nedbank, but also do employee financial wellness workplace talks at many other companies like Shell, Freddy Hirsch, Woolworths and Multichoice.

    The reason for this is usually pretty clear to HR Payroll departments who often have also felt the debt burden of employees in the sense that these employees sometimes borrow money from fellow workers creating friction in the workplace.

    They might also try to take on extra jobs on weekends or after hours in an attempt to make ends meet, and therefore come to work tired. At some companies’ employees try to cash in their pensions to pay off unsecured debt, or borrow against it, thereby negating the good advantage the company had in the marketplace by offering the pension in the first place. When creditors are ignored, it sometimes even leads to garnishee orders that impacts on the payroll department. Many companies in Financial services cannot employ staff with impaired credit records as staff cannot then retain things like FAIS accreditation which is one of the main reasons ABSA and Nedbank invite us to speak so regularly.

    Minimum and Maximum period for repayment

    Personal loans typically have a repayment period of between 2 and 5 years. This calculation is based on a repayment period of 5 years (60 months). Credit Life Insurance has been added in this calculation. Monthly account fee of R60 (excluding VAT) and an Annual Interest Rate of 28% (or current Bank Repurchase Rate plus 21%). This calculation is a no obligation, free assessment and is intended to provide you with the information you need for comparison purposes only. For shorter timeframes, credit facilities (like Credit Cards and Revolving Loans) are more suitable products to use.

    CREDIT CARDS and LOANS for BAD CREDIT, bad credit debt consolidation loans.#Bad #credit #debt #consolidation #loans

    Loans and Credit Cards for Bad Credit

    Welcome! Since 2005, we have been dedicated to helping those with a bad credit rating rebuild their credit. We provide you with the knowledge and resources necessary for you to find the best loans and credit cards for bad credit, regardless if you have a poor credit score or past credit problems. We continously update our offers to bring you the best bad credit offers available.

    If you are looking for the right offer to fit your financial needs or repair bad credit, please begin by choosing a category of offers below:

    Compare the top 10 credit cards for those with bad credit and apply online instantly.

    Compare auto lenders that approve people with a poor credit score.

    Review the best services for debt relief and debt consolidation loans.

    Need a cash loan to pay bills, take a vacation, or start a business? Apply now.

    Compare options to repair your bad credit history and improve your rating.

    Get a new home loan now at a great rate regardless of your past credit history.

    Tips and Advice

    ► 5 Steps to Rebuilding Bad Credit

    Bad credit debt consolidation loans

    ► Credit Crunch Shrinking Size of Personal Loans

    Bad credit debt consolidation loans

    ► Inside the Brain of an Auto Lender

    Bad credit debt consolidation loans

    ► Filing for Bankruptcy: Chapter 7 vs. Chapter 13

    Bad credit debt consolidation loans

    ► Which Type of Home Loan is Right for You?

    Bad credit debt consolidation loans

    ► Too Much Debt? How to Break the Debt Cycle

    Bad credit debt consolidation loans

    Debt consolidation loans – Money Advice Service, government debt consolidation loans.#Government #debt #consolidation #loans

    Debt consolidation loans

    Consolidating all your debts into one loan might appear to make life easier but there might be much better ways of dealing with debts. Find out more about how debt consolidation loans work, then get free debt advice before you make a decision.

    What is a debt consolidation loan?

    If you’ve got lots of different debts and you’re struggling to keep up with repayments, you can merge them together into one loan to lower your monthly payments.

    You borrow enough money to pay off all your current debts and owe money to just one lender.

    There are two types of debt consolidation loan:

    • Secured – where the amount you’ve borrowed is secured against an asset, usually your home. If you miss repayments, you could lose your home.
    • Unsecured – where the loan is not secured against your home or other assets.

    Secured debt consolidation loans

    Debt consolidation loans that are secured against your home are sometimes called homeowner loans.

    You might be offered a secured loan if you owe a lot of money or if you have a poor credit history.

    You should get free debt advice before you consider taking out a secured debt consolidation loan, as they’ll not be right for everyone and you could just be storing up trouble or putting off the inevitable.

    When should you consider a debt consolidation loan?

    Consolidating debts only makes sense if:

    • Any savings are not wiped out by fees and charges.
    • You can afford to keep up payments until the loan is repaid.
    • You use it as an opportunity to cut your spending and get back on track.
    • You end up paying less interest than you were paying before and the total amount payable is less (it could be more if you repay over a longer period).

    Before you choose a debt consolidation loan think about anything that might happen in the future which could stop you keeping up with repayments.

    For example, what if interest rates go up, or you fall ill or lose your job?

    If you can’t stop spending on credit cards, for example because you’re using them to pay household bills, this is a sign of problem debt.

    You should get free debt advice before taking out a debt consolidation loan.


    Always think about the potential downside of a secured loan. Your circumstances might change and your home could be at risk if you can’t keep up with repayments

    When getting a debt consolidation loan doesn’t make sense

    A debt consolidation loan definitely doesn’t make sense if:

    • You can’t afford the new loan payments
    • You don’t clear all your debts with the loan
    • You end up paying more overall (due to the monthly repayment being higher or the term of the agreement being longer), or
    • You really need help sorting out your debts rather than a new loan – a debt adviser might be able to negotiate with your creditors and arrange a repayment plan.

    Debt consolidation loans that don’t put your home at risk

    A better option might be a 0% or low-interest balance transfer card.

    This is the cheapest way if you repay within the interest-free or low-interest period.

    You’re likely to need a good credit rating though to get one of these cards.

    You could also consolidate your debts into an unsecured personal loan, but again you’ll need a good credit rating to get the best deals.

    Fees and charges for debt consolidation loans

    Beware of the high fees some companies charge for arranging the loan.

    • Read the small print carefully for any extra fees or charges before you sign anything
    • Check whether there are any fees for paying off existing loans early as this could cancel out any savings you make
    • Avoid paying a fee for a company to arrange the loan on your behalf unless you’re getting advice (and you’re sure it’s worth the cost)

    FreshFinance – Better choices, government debt consolidation loans.#Government #debt #consolidation #loans

    Smarter ways to clear your debts

    Check you qualify for debt help, right here.

    FreshFinance Blog

    Clarity with our fees

    At FreshFinance our goal is to provide you with the highest level of service in the clearest possible way. Which is why we partnered with Consolidators Ltd and their advisory team who share this passion. Consolidators Ltd role is to carry out the debt help services for you. They do not receive funding from any other sources, so their charge to you is for providing their services to help you reduce your debts.

    The specific fee structures for Debt Management Plans, IVAs and Bankruptcy are not hidden from you. In fact we want to ensure you know all the facts, which is why we have compiled a complete list of fees for each.

    Making better money choices with Fresh Finance

    3 Great ways to deal with debt

    Designed to put you back on track

    Debt Management

    Help if you have debts of ВЈ2,000 and over

    Debt Management allows you to pay one affordable monthly payment for all of your unsecured bank loans, credit card repayments and your other debts.

    Firstly the hassle of dealing with your paperwork and and day-to-day dealings with your creditors is taken away. Secondly, our selected debt partners will look to negotiate the freezing of charges and interest on your accounts to help stop your debts increasing.


    Help if you have little or no disposable income

    If you are facing bankruptcy then it is important to speak to a professional debt advisor before proceeding with bankruptcy.

    Fresh Finance was set up to deal specifically with cases of serious debt that require immediate expert help. Advice is given both on avoiding declaring Bankruptcy and also how to go through the whole bankruptcy process.

    Help if your debts are over ВЈ5,000

    An IVA can help you write off the debts you cannot afford. Debts that qualify for an IVA can be cleared in a set time period (usually 5 to 6 years).

    An IVA is a legal process by which you can gain protection from your unsecured creditors by entering into a legally binding repayment agreement with them, which is then supervised by a licensed insolvency practitioner.

    Student Loan Help, help with student loan debt.#Help #with #student #loan #debt

    help with student loan debt

    Goodbye, student loan debt. Hello, future!

    Help with student loan debt

    Get student debt answers now.

    A nonprofit NFCC Certified Student Loan Counselor will review all of your finances and help you develop a personal debt repayment plan, all for a nominal fee.*

    What s in it for you

    • A thorough evaluation of your entire personal financial situation—not just your student loans.
    • An audit of your current loans and their terms.
    • Comprehensive, one-on-one guidance through all student debt repayment options.
    • A full financial game plan, including which debt repayment plans are right for you.

    Here s what comes next

    • Set up a secure login.
    • Create your own confidential, financial profile online.
    • Be contacted by a nonprofit NFCC member agency.

    Ready? Set up your profile here.

    *Nonprofit, student loan counseling fees vary by NFCC member agency.

    I made the call. 1

    Help with student loan debt

    None of this was my fault, but it was my problem. Years ago, I co-signed a student loan with my then-husband. After we divorced, it stayed in his name. I made payments until the bank notified me the debt was forgiven. It wasn’t.

    Julie K Minnesota

    I didn’t leave school by choice. Two major health issues made the decision for me. By then, I had about $14,500 in federal student loans. Given my circumstances, I defaulted.

    1 Stories above represent actual NFCC client experiences.

    Student loan counseling.


    review of your financial situation, including current income, living expenses, all debt and your long-term goals.


    game plan that doesn’t undermine your personal short- and long-term goals by just directing you to a plan with the lowest current payment.


    assessment that looks beyond income-based programs and consolidation to see if other avenues for retiring your debt might be available and make more sense for you.

    Why choose us?

    Gain access to over 60 years of experience helping borrowers like you get answers to all of their debt-related concerns, including student debt solutions.

    Help with student loan debt


    We are experts on the ins and outs of student borrowing and repayment and on how to minimize its impact on your overall financial health. We work with you every step along the way until your issues are resolved.

    Help with student loan debt


    You always know where you stand and who to call with questions about your student loans and any other financial issues that arise over time.

    Help with student loan debt

    Local to you

    NFCC member agencies have office locations in all 50 states and Puerto Rico, which are staffed by NFCC Certified Credit Counselors.

    Be informed.

    Knowledge is power. To help you make the best decisions possible for your future, we keep you updated with access to a wealth of useful tools and resources.

    Get the latest insights on recent news regarding student loans and your personal finances.

    From calculators to definitions, find what you need to make better financing and repayment decisions here.

    Who is the NFCC?

    Founded in 1951, the National Foundation for Credit Counseling (NFCC ) is the nation’s first and largest nonprofit dedicated to improving people’s financial well-being.

    NFCC members help millions of consumers like you through community-based offices located in all 50 states and Puerto Rico. Each NFCC member agency has earned our seal by adhering to high standards and ethical practices designed to help you achieve financial stability.

    Member agencies are able to offer their services for nominal fees based on their current funding status. Funding for operations and services comes from an ever-changing combination of federal, state and local government grants, as well as donations from financial industry participants and private donors.

    For more on the NFCC, visit

    Thank you to our funders.

    The Sharpen Your Financial Focus program is an initiative of the National Foundation for Credit Counseling (NFCC) in partnership with a broad cross-section of supporters. Together, we are committed to increasing the financial well-being of Americans. This initiative is partially funded by Bank of America, Chase, Synchrony Financial, Wells Fargo and other major financial institutions. We thank all funders and partners who make this program possible. For more information, visit

    National Foundation for Credit Counseling

    Help with student loan debt, help with student loan debt.#Help #with #student #loan #debt

    A Look at the Shocking Student Loan Debt Statistics for 2017

    Help with student loan debt

    Updated: September 13, 2017

    It s 2017 and Americans are more burdened by student loan debt than ever.

    You ve probably heard the statistics: Americans owe over $1.45 trillion in student loan debt, spread out among about 44 million borrowers. That s about $620 billion more than the total U.S. credit card debt. In fact, the average Class of 2016 graduate has $37,172 in student loan debt, up six percent from last year.

    But how does this break down at a more granular level? Are student loans being used to attend public or private universities? Is it mostly from four-year or graduate degrees? What percentage of overall graduates carry debt? Are more grads utilizing private student loan consolidation and refinancing?

    Let s take a look.

    BONUS: Get a PDF of these statistics to print out, save, or send

    General student loan debt facts

    First, let’s start with a general picture of the student loan debt landscape. The most recent reports indicate there is:

    • $1.45 trillion in total U.S. student loan debt
    • 44.2 million Americans with student loan debt
    • Student loan delinquency rate of 11.2% (90+ days delinquent or in default)
    • Average monthly student loan payment (for borrower aged 20 to 30 years): $351
    • Median monthly student loan payment (for borrower aged 20 to 30 yea rs ): $203

    Public Service Loan Forgiveness statistics

    As of Q1, 2017 (latest available data)

    PSLF Borrowers: 611,598*

    * Total number of borrowers who have one or more approved PSLF Employment Certification Forms (ECF)

    Note that borrowers are self-identified based on submission of an ECF.

    Federal student loan portfolio

    (updated for Q2, 2017)

    Now let’s dive into how much debt student loan borrowers carry by loan type, term, and more.

    Student loan debt statistics by loan program:

    Student loan debt statistics by loan type:

    Student debt statistics by loan status (Direct Loan Program)

    Student loan statistics by repayment plan (Direct Loan Program)

    Student loan debt by servicer

    (updated for June 30, 2016)

    Data Source: National Student Loan Data System

    More shocking student loan debt statistics

    If those numbers weren’t stunning enough, here’s a closer look at how students accumulate debt based on the type of school they attend.

    In 2012, 71 percent of students graduating from four-year colleges had student loan debt:

    • Represents 1.3 million students graduating with debt, increase from 1.1 million in 2008
    • 66 percent of graduates from public colleges had loans (average debt of $25,550)
    • 75 percent of graduates from private nonprofit colleges had loans (average debt of $32,300)
    • 88 percent of graduates from for-profit colleges had loans (average debt of $39,950)

    Twenty percent of 2012 graduate loans were private

    Graduates who received Pell Grants were likely to borrow, and borrow more:

    • 88 percent of graduates who received Pell Grants had student loans in 2012, with an average balance of $31,200
    • 53 percent of those who didn’t receive a Pell Grant had student loan debt and borrowed $4,750 less ($26,450)

    Private student loan debt statistics

    • Private student loan debt is on the rise; $6.2 billion was borrowed in 2012-2013, up from $5.5 billion in 2011-2012
    • From 2011-2012, borrowers didn’t take advantage of federal student loans as much as they could have: 19 percent didn’t take out Stafford loans, 8 percent didn’t apply for federal financial aid, 11 percent applied for federal aid but didn’t take out a Stafford loan, 28 percent had Stafford loans but borrowed less than they were eligible for
    • In 2011-2012, 48 percent of private loan borrowers attended schools that had tuition costs of $10,000 or less
    • Nearly 1.4 million undergraduates borrowed private loans in 2011-2012

    Graduate student loan debt

    About 40 percent of the $1 trillion student loan debt was used to finance graduate and professional degrees.

    Combined undergraduate and graduate debt by degree:

    • MBA = $42,000 (11% of graduate degrees)
    • Master of Education = $50,879 (16%)
    • Master of Science = $50,400 (18%)
    • Master of Arts = $58,539 (8%)
    • Law = $140,616 (4%)
    • Medicine and health sciences = $161,772 (5%)

    Clearly, as these student loan debt statistics show, the cost of attending college is becoming a growing burden for a huge portion of Americans.

    What are you doing to pay off your debt and ensure you aren’t another statistic? Be sure to let us know how we can help.

    Student loan debt: Why employers may want to help pay off college loans, help with student loan debt.#Help #with #student #loan #debt

    Here s why employers may want to help out on the mountain of student loan debt

    Help with student loan debt

    Employers eager to recruit and retain skilled workers in a tight labor market have about 1.34 trillion reasons to expand their benefits package to include assistance in helping employees repay their student loans.

    That’s the mountain of student loan debt being carried on the financial shoulders of 44 million Americans. And no surprise, the bulk of those would indeed love for the boss to kick in and help pay it back.

    More than 80 percent of workers with student loans surveyed by IonTuition said they would like to work for a company that provides a student loan repayment benefit. IonTuition, a fintech company focused on services to help borrowers manage their repayments, mostly surveyed millennials.

    Yet there is plenty of reason to suspect older workers would be eager for the perk, too. According to Federal Reserve data, borrowers at least 40 years old have a not-small $450 billion in student loans to pay off. A big part of that older cohort are parents who borrowed through the federal PLUS program or took out private student loans.

    The benefit is still clearly in the early adopter stage with just 3 percent of firms surveyed by AonHewitt currently offering student loan repayment assistance. AonHewitt says an additional 5 percent of surveyed companies say they are likely to add the benefit and 24 percent are moderately interested in adding the benefit.

    “Employers are incredibly curious and engaged around the issue given all the news about student loan debt,” said Balaji “Raj” Rajan , chief executive officer of IonTuition. He said IonTuition fields two or three inquiries a day from companies interested in adding student loan repayment assistance.

    A few big old-line firms including Aetna, Fidelity, PwC and Penguin Random House have begun to contribute to employees’ loan payments. Earlier this summer, the city of Memphis, Tennessee, announced it will contribute $50 a month toward employees’ student loan repayment.

    Adoption of the benefit is more common among smaller and mid-size companies with nimbler decision trees and the need to position benefits as a competitive edge in recruiting, according to Meera Oliva, chief marketing officer at Gradifi, a subsidiary of First Republic that provides a student loan benefit platform for employers, including PwC and Penguin Random House.

    Gradifi has more than 140 employer clients offering repayment assistance and is adding a half dozen or more monthly. “The bulk of our business is companies coming to us, not the other way around,” Oliva said.

    An employer contribution of $50 or $100 a month is common among the first movers. That can indeed be a big help, as IonTuition reports that about three-quarters of borrowers make monthly payments of $300 or less.

    Employer contributions go toward principal repayment. Gradifi’s website includes a free tool for employees to see how an employer assist can aid employee financial wellness. For instance, someone aiming to pay off $35,000 in debt over 10 years might be able to shave off 2.5 years and save some serious coin in the process:

    Help with student loan debt

    Waiting on Washington

    Chris Walters, chief executive officer of Gradfin, another student loan repayment and management tech platform, said the tax code is keeping plenty of interested employers on the sidelines.

    “If an employer contributes $100 a month toward student loan repayment, it costs $107.65 a month because it is treated as compensation and requires paying the employer share of the payroll tax,” Walters said.

    Moreover, the benefit is taxable to the employee as compensation.

    “It’s going to take a change in the tax code to see large growth in the benefit,” he said.

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    Bipartisan bills in the House and Senate would put student loan repayment assistance on par with employer tuition assistance, which currently allows employers to give employees up to $5,250 a year tax-free for tuition costs.

    The cost of that tax break likely makes for some tough sledding in this current Congress. Walters says that’s missing the bigger picture.

    “The federal government, meaning taxpayers, are already losing plenty in terms of defaulted student loans, and income-based plans that will be forgiven,” he said.

    “Congress should be worried about those losses. If the private sector comes in and improves debt repayment the Federal government is going to get paid more.”

    (Correction: This story has been updated to correct the spelling of Balaji “Raj” Rajan.)