FAQ’s

Yes, and if you are in default, working with us is even more valuable. We can immediately stop all incoming collection calls, and either help you consolidate out of default, or rehabilitate your loans with the lowest possible payments to the collection agency.

We then create a long-term strategy for reducing your monthly payments and interest accrual for the life of the loan, while realizing the greatest loan forgiveness possible.

We do take on a limited number of defaulted borrowers at any one time, due to the enormous time required in working with some creditors.

In the history of Student Loan Tutor, we have never had someone default after becoming a client.

We earn our revenue as simply as it gets: you pay us for services well rendered. We have earned every dollar, by helping our clients save thousands.

There are many resources online regarding student loan strategy. Often it appears to be free. We are confident that may raise eyebrows. Follow the money and you will understand the message. Just as with taxes, all of the information is out there, but how do you decipher it? What applies to you and can benefit you?

Most information online is put out by either the Department of Education, federal student loan servicers, or private student loan brokers. You’ve seen how opaque the first is. If you call the servicers you will get a different answer every time. Private student loan brokers masquerade as charitable knights in shining armor, here to teach you everything about student loans, and save your financial life. If you click on their link and end up refinancing your loans, they earn a large commission, and you lose all loan forgiveness. They even make money by placing ads throughout their sites. We don’t.

We work with our clients for the life of the loan, establishing strong and lasting relationships, and work primarily on referrals from satisfied clients.

We charge a flat fee for service. Again, it only makes sense to hire Student Loan Tutor to manage your student loans if it saves you a considerable amount of money, both immediately and over the life of the loan.

That said, we charge a refundable $50 deposit to secure a 30-60 minute planning call. If we are unable to help, this is refunded after the call.

If you decide to move forward, that $50 applies to our total flat fee for service. Our fees range from $750 to $1200, depending on your situation.

If you are not in default on your loans, our fees are $950 or less.

We do not require a contract. However most of this planning and execution, document prep, and communication needs to happen at least yearly. We charge less than half of the first year fee thereafter, depending on what is required.

All of our rates are flat fee each year – the fees cover all interactions and services.

This is a complicated question, and the more accurate the answer, the longer it will be. We have clients with relatively simple student loan situations, but what does that mean? It could look simple, but still they are not taking advantage of maximizing their savings. We also introduce timing into the equation. There’s a major difference between having a favorable loan payment, say $0 per month, and having a favorable repayment strategy. We often see two borrowers with the exact same student loan amount, interest rate and payment amount, but one accruing interest at twice the rate as the other.

If you’ve been managing your student loan for a while, you know the complexities are endless. It’s easier to describe when it is not complicated. If you are a W2 employee, single, earning double the poverty line index, your school is still open, you have a 3% interest rate and under $8,000 in student loans, are in active repayment and have no debts that are greater than the 3% interest rate, and are in a 10 year standard based repayment with a direct loan, then your situation may be relatively simple. However, the larger the debt, higher the interest rate, more complex your financial picture (both business and personal), the more complicated a proper student loan strategy becomes. This applies to your savings, too.

Some variables to consider, not familiar to virtually any borrowers, financial professionals and/or student loan servicers, are:

– What are your loan types; are they the most advantageous for your overall strategy – saving you money both short term and over the life of the loan?

– Should you consolidate any, all or portions of your loans?

– What is the best repayment plan, now and long term?

– If you’re not in the best repayment plan, what is the cost to switch repayment plans? (Includes the direct cost, as well as capitalizing interest, which occurs when switching repayment plans, loan types or consolidation for any one or all of your student loans, even if done with the same servicer and even if they were all direct loans to begin with.)

– Should you switch loan types, and is there a cost – do you lose any of the qualified payments towards loan forgiveness?

– Do you need to consolidate at all, and if so, should you consolidate all of your loans?

– Is there a way to extend student loan payments past death, to avoid the tax implication associated with the forgiven balance?

– Are you taxed on the forgiven principal, or the principal and interest?

– If so, when and how does interest capitalize within the plan you’re in, and if there is a better plan, will it always be the best long term? (Looking toward the future is extremely important. For example, you may be single now, but engaged to be married and plan on having children. Your spouse may or may not have student loans. Your plan may be to go from being an employee to being self-employed, or vice versa. If this is the case, it is important to choose the right strategy now; not that you can’t switch strategies later, but because there is a cost in capitalizing interest when making certain changes).

The mistakes regarding student loan repayment generally begin immediately, at the origination of the loan, and begin to compound at the time of graduation. One element that will highlight this is the fact that without exception, we have not encountered a client that has waived the six month grace period that takes place after graduation.

Why would one want to do that, you may ask?

Well, that’s just the beginning. Call us, and we’ll happily explain.

You do not need anything before calling. (This is a major reason potential clients put off calling.) If you know your name and your email address, we can find the rest.

Of course if you have all of your FSA log-in information, financial statement, income documentation, tax documents and spousal information ready, that makes it easier. However, that is rarely the case. Most of our clients simply don’t know what to have ready, but call for our help anyway.

In other words, don’t wait, just call us.

This is very easily answered, yet is the principle reason for hesitating to take action. At this time there are over 45,000,000 federal student loan borrowers, and 1.5 trillion dollars in federal student loan debt. With a demographic of this magnitude, many shady, potentially predatory businesses, and some well-meaning but incompetent organizations surface. How can you be sure we are not one of them?

We are so glad that you are reading this. Just check our:

Facebook Reviews. Why do we cite this first? Before client videos, BBB ratings, Google ratings, and more? Anyone can start a facebook page and anyone can write a facebook review – doesn’t that make this meaningless?

It’s actually the opposite, if you take a look.

Inspect the reviews; are they real people? What is their profession, what is the overall review like. All of our reviews are relevant- with real clients, sent directly from their Facebook profiles. If reviews are posted on our page, we cannot alter or delete them. (Incidentally, this is why many companies turn their reviews off.)

We have nothing to hide. Why do we have all 5 star reviews – are we perfect? No. We do meet clients that we can’t help. However, we NEVER charge a client we can’t help; we live by this policy. You are either a happy client or you pay nothing.

Client Testimonial Videos. We have been able to help many professionals so profoundly that they were happy to provide us with video testimonials. No one can better tell a client’s story than the client themself.

These are real clients and real situations, folks pleased to give their feedback on working with Student Loan Tutor. Loan documents are produced to show the results.

Our A+ rating with the BBB.  Actually not as persuasive as the above: BBB allows businesses to correct a situation, and then negative posts are removed.

We have none to remove.

Google. No negative reviews, from any client, anywhere on the internet. “Google” us – such a record is nearly impossible to accomplish. If we were a scam, someone, somewhere, would have posted about it.

Student Loan Tutor has been in business for years. We are not going anywhere. Our business model specifies that we help you as long as you retain us – for the life of your loan – for which we are paid. In many cases that’s 20 to 25 years, and we work hard to earn your continued business.

We retain Student Loan Law, PC, for many aspects of managing your file, with attorneys specially trained in federal and private educational loan law, a subset of consumer law.

Our fees are refundable. If we do not provide exactly what we promise, you receive a 100% refund of any fees. In the extremely rare situation when we have had to refund a client, this refund is made immediately.

We’ve looked – there is no other company with such a spotless reputation.

Generally, the easiest clients to work with, and the ones who gain the most financially, are in this category. They often overpay; they haven’t felt a strong enough sting in making rather large loan payments to research ways of reducing them (increasing cash flow).

They aren’t lowering interest accrual, often believe that forgiveness options don’t apply to them, and are generally the least informed. Unfortunately, they treat student loan repayment as they treat other debts, and have been focused on simply paying them off.

Combining subsidies that can be used by most borrowers with an increase in cash flow, reduced interest accrual, and reallocation of funds to pay off higher interest debts can make a dramatic improvement to a borrower’s financial picture.

This query is a lot more common than you would think, which is how it made it to this page. Professionals often don’t know what questions to ask, and they put off taking the first step: calling. We don’t know what we don’t know, and this is how one can get stuck.

We specialize in working with doctors and other professionals with $50,000+ in student loans, and have worked with every scenario that one can imagine.

Our goal in part is to educate you, helping you understand the strategy we prepare, and then to do all the legwork for its immediate execution. Our clients come away with a completely new understanding of their student loans, and a sense of certainty and optimism. Whatever information needed to help, we access, with some minimal help from you, our client.

In other words, you’ve put this off long enough; pick up the phone and get the ball rolling.

You’ll be happy you did.

This is one of the most common misconceptions, and one of the most costly. IBR – Income Based Repayment – is one of six different income-driven repayment options. However, IBR has become synonymous with IDR – Income-Driven Repayment.

If you can relieve the patient’s symptoms and improve their condition, one is often not apt to search for additional relief. We have many clients that contact us and are in an IBR repayment plan, and have what they believe to be a very low payment, sometimes as low as $0.

Why would someone that is a $0 IBR become a client? The reason is multifaceted. The way that interest accrues in IBR, one misses interest accrual subsidies that don’t apply. In fact, IBR is applied to virtually all loan types, but these loan types do not qualify for many subsidies and repayment/forgiveness programs. Often clients call us who think they have everything “dialed in,” but are the furthest off track.

We are either able to help your situation or we are not. If we are, it makes sense to become a client. This is not a value proposition. It’s a matter of cash flow and final cost of your degree. If you pay $85 per month and $50,000 total for your education, vs. $450 per month and $320,000 total, and the cost is under $1,000 to accomplish that, it would make financial sense.

If we are unable to reduce either the monthly payment, interest accrual or over all expenditure of your student loans, it would not make sense to become a client.

There is one primary reason that people become clients of Student Loan Tutor: we save them more money than if they do it themselves. Other reasons include erasing the hassle of having to deal yearly with servicers and the Department of Education, having us stay up to date on the changes that frequently occur, and then adjusting your strategy accordingly.

We ensure you are in the proper loan types, with the right consolidations, repayment plan, tax filing status and income documentation.

Structuring the plan is only the beginning; higher education debt is in constant flux, and so is your financial situation. As student loan law or your life situation evolves, the strategy for maximizing savings may change dramatically. Many clients we meet who have been happily paying $0 per month have found that we can still save them up to 50% over the life of the loan with proper adjustments. Most clients have misinformation as their guide: either the loan servicer (who is interested in collecting a debt) or online content that is biased (often encouraging federal borrowers to convert their debt into private student loans, lowering interest rate, but removing all subsidies, federal benefits, or any potential for full or partial loan forgivenessnot in the client’s best interest.)

Our clients also have access to private student loan advice and legal help pertaining to their student loans. (Legal advice and/or representation takes place through Student Loan Law, PC, and requires an additional retainer. Student Loan Tutor is NOT a law firm, but this is rarely required.)

Robert Kiyosaki said it best: “The most expensive advice you can receive is FREE advice.”

And this is generally the only advice one receives regarding student loans.

If you have $5,000-$10,000 in student debt and are not in default, our fees may exceed what you would save, and we recommend you should do it yourself, if you don’t mind the headache.

However, if you have $50,000-$100,000 or more in debt, our fees are a tiny fraction of what we will likely be able to save you.

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