Federal Student Loan Consumers Are Entitled to Comprehensive Debt Management
To help ensure the long-term financial successes of student loan borrowers, the National Association of Student Loan Administrators believes these services should be provided by guarantors that have demonstrated a proven ability to act as neutral third parties in the federal student loan program, providing borrowers with unbiased counsel and advice. As a result, all borrowers would be provided with the timely information they need to avoid the negative impacts of delinquency and default.
We believe that all student borrowers, regardless of the source of their loans, must be guaranteed the tools to responsibly manage and repay their education debts. These consequences can ruin student loan borrowers’ credit and drain taxpayer funds. As a result, it is critical for education loan reform legislation to entitle borrowers to debt management as a basic right.