Guidewell Financial Solutions Launches Student Loan Counseling Program

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National nonprofit Guidewell Financial Solutions (also known as Consumer Credit Counseling Service of Maryland and Delaware, Inc.) now offers student loan counseling. Its counselors are NFCC trained and certified and use a holistic approach to help clients evaluate their financial situation and explore loan options.

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Also known as Consumer Credit Counseling Service of Maryland and Delaware, Inc.

We are excited to offer Americans with student loan debt a best-in-class counseling program that meets the highest standards. Our NFCC-certified counselors are qualified to address the full range of financial challenges everyday consumers face.

National nonprofit Guidewell Financial Solutions (aka Consumer Credit Counseling Service of Maryland and Delaware, Inc.) is pleased to announce the launch of their student loan counseling program. This service will provide effective repayment strategies and relief to student loan borrowers who have taken out funds to pay for their college education.

Guidewell Financial President and CEO Helene Raynaud says, “We are excited to be able to offer Americans with student loan debt a best-in-class counseling program that meets the highest standards. Our NFCC-certified counselors are uniquely qualified to address the full range of financial challenges everyday consumers face. We are committed to helping these borrowers develop workable repayment strategies that are tailored to their specific financial needs.”

  • Why Is Student Loan Counseling Needed?

Americans now owe more student loan debt than credit card debt. In fact, some estimates show the rate of student loan debt growth to be nearly $3,000 per second, propelling the national student loan debt total above $1.3 trillion. Among the 43 million total student borrowers, 7.3 million are at least 90 days delinquent on their loans, 5 million are in default, and millions more are in negatively-amortizing income-driven repayment plans. These figures indicate that student debt may fuel the next major national financial crisis.

Struggling student loan borrowers do not know where to turn. Until now, there has been no established student loan counseling provider and many borrowers receive misleading information from servicers and debt collectors. According to a 2015 report by the Consumer Financial Protection Bureau (CFPB), student loan debt collection is among the five highlighted areas where the Bureau’s examiners have uncovered legal violations and abusive practices.

Guidewell Financial’s program is part of an initiative developed by the National Foundation for Credit Counseling (NFCC) to address these issues. NFCC Spokesman Bruce McClary says, “Our National Student Loan Counseling Program is unique, because it’s supported by the largest nonprofit network of comprehensively certified counselors. They take a holistic approach that enables consumers to make informed decisions about their student loan repayment options and take charge of their financial lives.”

  • What Makes This Student Loan Counseling Program Different?

All of Guidewell Financial’s student loan counselors are experienced, NFCC-certified financial counselors and have completed specialized training that covers the full inventory of student loan programs associated with repayment, forbearance, and other loan modification options. In addition to training, they have received NFCC student loan counselor certification, which is regarded as the most thorough and rigorous process for student loan counselors in the country.

Consumers who receive counseling through this program benefit from a thorough financial review that identifies options based on their specific circumstances and needs. This comprehensive approach, already a standard among NFCC certified counselors, empowers borrowers to make informed decisions about their student loan repayment options and to become more financially secure.

Guidewell Financial Director of Counseling and Client Services Nina Heck says, “For-profit student loan counseling companies often take a very limited approach. If a client comes to them hoping to lower the monthly payment on a single student loan, they offer a plan to do just that. However, borrowers often have other financial obligations and additional student loans that need addressing. Otherwise, they’re likely to end up in trouble again. We don’t just provide a bandaid – we provide a full financial review and discussion of options. If other personal finance issues are affecting their ability to repay loans, we may even have services to help them resolve these concerns.”

Please visit studentloanhelp.org for more information about the NFCC student loan counseling program. Call 1-877-222-7435 to schedule a Guidewell Financial student loan counseling appointment or visit guidewellfs.org to learn more about Guidewell Financial’s student loan counseling initiative and other services.

  • About Guidewell Financial Solutions

Guidewell Financial Solutions (also known as Consumer Credit Counseling Service of Maryland and Delaware) is an accredited 501(c)(3) nonprofit agency that helps stabilize communities by creating hope and promoting economic self-sufficiency to individuals and families through financial education and counseling. Maryland License #14-01 / Delaware License #07-01

  • About the National Foundation for Credit Counseling

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. With 600 member offices serving 50 states and Puerto Rico, our NFCC® Certified Consumer Credit Counselors are financial advocates, empowering millions of consumers to take charge of their finances through one-on-one financial reviews that address credit card debt, student loans, housing decisions and overall money management. For expert guidance and advice, call (800) 388-2227 or visit nfcc.org today.

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Nancy Stark, Director of Public Affairs
Guidewell Financial Solutions
since: 12/2010
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