How to Find Student Loan Counseling

How to Find Student Loan Counseling

Student loan counseling can be an important tool when it comes to addressing your finances and tackling debt. And with a vast array of options available, having confidence that you’re using the right service is key. Below, we’ve taken a look at how to find a counselor, so you can choose the best service for you!

Assess how serious your situation is

The first thing you’ll want to look at is the seriousness of your position. You may just be looking to spruce up your financial situation, but you may be struggling with debt that other student loan counseling hasn’t been able to cover. Understanding how in-depth of assistance you need will help you decide where to go for help.

Determine how much you’re willing to pay

The pool of student loan counseling services is wide, and their costs can vary. Some charge no fees, while others can be expensive (a private counseling session, for example, can cost hundreds of dollars). Depending on your circumstances, you may either want to opt for a free- or low-cost option, or you may decide it’s worth it to invest more money in counseling. Make sure you understand before signing on for a service what their cost is, and if you can afford it.

Free services:

Paid services:

Be aware of potential scams

Finally, be wary of potential scammers. In vetting prospective services, pay attention to what they’re promising and if it seems too good to be true. And never give out your personal information to a counselor who hasn’t been vetted. NerdWallet suggests these seven questions to ask a potential credit counselor:

  • What are your qualifications? Ask if the organization is accredited through the National Foundation for Credit Counseling or the Council on Accreditation, or about the specific counselor’s experience and training.
  • How can you help me reach my financial goals? Find out if the counselor’s specialization works for your situation.
  • What do your services cost? Compare prices and understand what you’ll have to pay before signing up for a service.
  • How do you provide your services? Consider how you would like to meet with your counselor (in person, over the phone, or online) and whether that format is available.
  • How are these services funded? Knowing if the agency you’re talking to receives compensation from outside organizations will make you aware of any conflict of interest and increase transparency. On the other hand, according to NerdWallet, a nonprofit that has a relationship with creditors is “a win-win. Creditors benefit from having their customers pay back their debt, and this funding source in turn makes the services more affordable for consumers compared to alternative, for-profit agencies.”
  • How will your services affect my credit score? While your credit score is likely to improve in the long run, it may be temporarily hurt if accounts are closed. Your counselor should be able to talk you through what to expect in the near and long term.
  • How often will we work together? The length of the relationship varies by counselor, so find out beforehand how often you’ll meet and whether that’s enough time to help you reach your goals.

Paying off debt can be challenging, but there are resources to help! In understanding your situation and the type of situation you need, you’ll be better positioned to find an option that works for you.

Student Loan Counseling

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What to Expect: Realistic Outcomes

Climb’s Comprehensive Access Solution can offer a strategic balance of increased enrollments and upfront cashflows compared to traditional lenders. While no financing solution guarantees 100% collection, our data-driven approach maximizes both upfront cash and long-term repayment rates.

Typical Partner Results:

  • 15-30% of students qualify for Climb Loans with upfront tuition delivered to the school shortly after course start
  • 45-60% of students qualify for 0% APR* payment plans
  • Enrollment increases of 20%+ reported by partner schools**

**Results vary by school and student demographics. This represents performance reported by individual school partners and should not be considered a guarantee of your specific outcomes.

The bottom line: CAS is designed to maximize your net tuition recovery while eliminating the administrative headaches of student financing.

Maximizing Your Results

Pro Tip: Schools that require student deposits and set up automatic payments during enrollment see significantly better repayment performance across all financing options. These simple steps can meaningfully improve your outcomes.

FAQs

We use a comprehensive, AI-driven assessment that goes beyond traditional FICO scores to better serve career training students:

  • Climb Credit Score: Over 150 data points specifically designed for vocational students
  • Debt-to-Income Ratio: Reliable predictor of payment performance
  • FICO Score: Used primarily for interest rate assignment

Key advantages of our approach:

  • Soft credit pull until loan funding (no credit impact during application)
  • The majority of students receive instant decisions
  • Students can apply with co-borrowers directly in the application
  • More accurate placement into appropriate financing products

We use a comprehensive, AI-driven assessment that goes beyond traditional FICO scores to better serve career training students:

  • Climb Credit Score: Over 150 data points specifically designed for vocational students
  • Debt-to-Income Ratio: Reliable predictor of payment performance
  • FICO Score: Used primarily for interest rate assignment

Key advantages of our approach:

  • Soft credit pull until loan funding (no credit impact during application)
  • The majority of students receive instant decisions
  • Students can apply with co-borrowers directly in the application
  • More accurate placement into appropriate financing products

Students are placed into funding brackets (Elite, Standard, Enhanced) based on our AI assessment. Higher-credit students generate higher upfront payments to your school, while students with limited credit are seamlessly directed to our 0% Payment Plan.

These brackets are established using data from over $1 billion in career training loan originations and may be adjusted periodically based on updated repayment trends.

Important note: Regardless of which bracket a student falls into, they are considered fully paid by your school once funded. The student’s repayment obligation exists exclusively between Climb and the student.

Elite Access not available for Computer Science programs. Upfront percentages vary by industry and loan terms.

Once Climb disburses upfront funding for a student loan, that student is considered fully paid by your school. You will not receive any additional payments for that student—the single upfront payment is complete and final.

From that point forward, the student’s repayment obligation exists exclusively between Climb and the student. Your school has zero liability if the student defaults, and you keep the full upfront payment regardless of the student’s future payment performance.

They’re automatically offered our 0% Interest Payment Plan, ensuring no student is turned away while maintaining steady monthly cash flow for your school.

Higher-credit students generate larger upfront payments (75-100% of tuition), while students with limited credit use our 0% APR* Payment Plan for consistent monthly revenue. Both options are risk-free for your school

Absolutely. Climb complements existing payment options like scholarships, employer-sponsored programs, and internal financing.

Absolutely. Climb complements existing payment options like scholarships, employer-sponsored programs, and internal financing.

Typically, within 5-10 business days after your partnership agreement is signed.

Comprehensive onboarding webinar, continuous partner support via AI-assisted chat and live email—and real-time borrower assistance with our live-chat-available student success team.

No. Climb fully manages the administrative responsibilities—your team simply monitors your school’s performance via our intuitive School Portal.

Your school is fully protected either way. For Climb Loans, you keep the entire upfront payment with zero liability. For Payment Plans, you only receive what students actually pay, with no risk to your school.