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Money Management: Student Loans

Managing your money from financial planning to retirement

Student Loans: A Trillion Dollar Issue

Some 45 million Americans collectively owe $1.75 trillion in student debt. Student debt impacts people of all ages including many older Americans. If you have student loan debt, you are not alone. For many decades the government used to cover much of the cost of college, especially at public colleges and universities, but now most students have to take out student loans to pay for their programs. There are usually two options when it comes to Student Loans: Federal and Private. This has led to a student loan crisis. This LibGuide aims to mitigate your financial burdens by providing you with the latest information about student loan relief through library resources and referrals.

Everything You Need to Know About The SAVE Student Loan Repayment Plan

Calculate Your Federal Student Loan Repayment Options with the Student Aid Loan Simulator

Loan Simulator helps you estimate monthly student loan payments and choose a loan repayment option that best meets your needs and goals. You can also use it to decide whether to consolidate your student loans.


Work for a non-profit or government agency? Here's the scoop on Public Service Loan Forgiveness (PSLF)

Get Help with Your Student Loans

EDCAP helps New Yorkers navigate the student loan system regardless of the type of education debt, federal or private. EDCAP is an independent, nonprofit one-stop shop for student loan debt and related issues. They offer free, one-on-one counseling with student loan experts.

Services:

  • Determine your best student loan repayment option;
  • Access loan forgiveness, cancellation, and discharge programs;
  • Apply for financial aid (FAFSA), consolidation, deferment, and forbearance;
  • Resolve issues with loan servicers and lenders;
  • Get out of default to prevent wage garnishments, social security offsets, and tax intercepts;
  • Develop a comprehensive plan and strategy to tackle your student debt;
  • Understand and compare financial aid offers and make a plan to go to college with less debt;
  • Refer you to other services and resources to address additional needs.

All EDCAP services are free, confidential, and unbiased! 

Schedule an appointment: 
Call (888) 614-5004 or email EDCAP: edcap@cssny.org 

Check it Out at BPL!

calculating the cost of college and understanding student loans

Calculating the Cost of College and Understanding College Loans includes information on how to apply for student loans, types of student loans (federal and private), how to pay back student loans, tactics for paying off loan debt, and financial strategies.