Washington, D.C. (PRWEB) September 27, 2012
Today, the Student Loan Alliance (SLA), a nonprofit organization headquartered in Washington, D.C., expanded its membership to include eight of the largest nonprofit consumer credit counseling organizations in the country. Lenders, servicers, colleges and universities are among those who will benefit from the valuable role nonprofit counselors will play as a part of this new alliance. Counselors will assist borrowers at risk of default by providing education on loan options for new students and offer guidance to consumers entering repayment.
The new Alliance members have sophisticated tele-counseling platforms that leverage the best technology to streamline the borrower experience while providing comprehensive counseling that covers all financial products and services. On average, the core Alliance agencies assist more than 330,000 borrowers a month and 4.2 million consumers a year.
Members of the SLA include:
“Providing borrowers access to independent and trusted advisors to help them understand their student loan and manage their debt is an essential part of our response to the clear challenges throughout the student loan industry,” said Larry Gilmore, president of the SLA. “I’m excited about the role our core counseling members will play in this effort.”
“We have a long history of providing objective financial counseling to thousands of distressed borrowers, many of whom have challenges with student loan debt. We’re confident the Student Loan Alliance will maximize our impact throughout this industry,” said Jane McNamara, President and CEO of GreenPath.
The SLA provides solutions to mitigate the challenges facing student loan borrowers by focusing on three key strategies. Facilitating private, nonprofit, and public partnerships will help develop best practices. Strong partnerships will help raise public awareness and create more channels for borrower outreach campaigns. Together with these efforts, education and counseling are provided in a way that delivers sustainable solutions.
“We receive requests from thousands of consumers across the country who experience all types of credit challenges, including credit cards, auto loans, budget management, mortgage payments, and student loans. We’re proud to work with our industry colleagues through the formation of the Student Loan Alliance to have a more coordinated role in assisting student loan borrowers,” said Joel Greenberg, President of Novadebt.
More information about the Student Loan Alliance is available at http://www.studentloanalliance.org.
About the Student Loan Alliance
The Student Loan Alliance (SLA) is a nonprofit organization focused on developing long-term solutions to address the student loan crisis with a key focus on leveraging independent nonprofit counselors as “trusted advisors.” Alliance members deliver efficient counseling and timely assistance by implementing best in class systems and processes. The student loan crisis affects many households across the country and SLA is committed to addressing the crisis by promoting partnership, developing effective outreach and awareness campaigns, and providing streamlined education and counseling.