Vicki Brackens on Inspiration for the Nation – Who You’re Going to Call – Episode 216
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The Network Journal award for 25 Influential Black Women in Business- 2018 honoring women whose professional achievements have significantly impacted an industry or profession, and who also made an important contribution to her community. Typically, a business owner, or a partner, president, CEO, board chair, or other senior management executive with significant decision-making authority in the corporate, nonprofit, or government sector.

Centerstate CEO’s Business of the Year award 2018 (in partnership with the Upstate Minority Economic Alliance) in the minority-owned business category -These member businesses stand out among an incredibly competitive field of nominees for their outstanding success and role that they play in strengthening the community….(read more)

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The loan servicer is king! Contact your loan servicer now. #studentloan #loans #debt #college #bfsn

As a college student or recent graduate, you may find yourself overwhelmed by the burden of student loans. It’s not uncommon to have multiple loans from different lenders, and keeping track of them all can be a daunting task. That’s where the loan servicer comes in – your ally in managing your student debt.

A loan servicer is a company that collects loan repayments, provides customer service, and offers assistance with various repayment options. They act as the middleman between you and your lender, handling all the administrative tasks related to your loans. While it may seem like just another bureaucratic entity to deal with, your loan servicer plays a vital role in ensuring that you can repay your loans successfully and avoid further financial strain.

First and foremost, it is crucial to know your loan servicer. When you take out federal student loans, the U.S. Department of Education assigns a loan servicer to manage your loan. These servicers are responsible for providing you with important information about repayment plans, loan consolidation, and any other necessary documents. Therefore, establishing contact with your loan servicer should be a priority.

One of the primary reasons for contacting your loan servicer is to explore the available repayment options. Depending on your financial circumstances, you may be eligible for income-driven repayment plans, which adjust your monthly payments based on your income and family size. By discussing these options with your loan servicer, you can choose the plan that best fits your budget and prevents defaulting on your loans.

Furthermore, loan servicers offer invaluable guidance on loan consolidation. Consolidating your loans into a single payment can make repayment more manageable by simplifying the process. By contacting your loan servicer, you can obtain information about how consolidation works, whether it is the right option for you, and the potential benefits and drawbacks associated with consolidation.

In addition to repayment options and loan consolidation, loan servicers can assist you in navigating other potential challenges. For instance, if you are experiencing financial hardship, your servicer can guide you through the process of requesting a deferment or forbearance – temporary postponements or reductions in your loan payments. These options can provide relief during a period of financial instability, such as unemployment or unexpected medical expenses.

It’s also important to contact your loan servicer if you encounter any issues or need clarification regarding your loan. Whether it’s incorrect information on your account, discrepancies in your loan balance, or confusion about the terms of your repayment plan, your loan servicer is there to help address your concerns and provide the necessary guidance. Neglecting to resolve these issues can have long-term consequences, such as negatively impacting your credit score or causing unnecessary delays in your repayment journey.

In conclusion, your loan servicer is a crucial resource for managing and repaying your student loans. By reaching out to them, you can access vital information, explore repayment options, and address any obstacles or concerns that may arise. Remember, communicating with your loan servicer is an essential step toward gaining greater control over your finances and getting closer to financial freedom. So, don’t hesitate any longer; take charge of your student loans today by contacting your loan servicer!