Fundamentals of Student Loan Counseling (1 of 4)
Approved for 6 CEUs for AFCPE and CFP Professionals (entire series)
With $1.48 trillion in outstanding Student Loan balances, it is easy to see how student loan debt makes up a significant portion of the financial picture of the 44.2 million Americans that carry this debt. When you take into account that the average student loan payment ranges from $203 to $351 per month, it becomes clear that as a financial counselor, understanding the options for addressing the debt will be extremely beneficial in advising your clients towards a stronger financial future. In this 4-week webinar series, you will learn the key differences between Federal and Private student loans, eligibility requirements, repayment options including additional benefits for members of the U.S. Armed Forces, and how to complete a Student Loan Counseling Session from start to finish.
Week 1: Understanding Student Loans
Federal vs. Private Student Loans PowerPoint: Explains key differences between Federal and private student loans and eligibility requirements, Direct Subsidized and Unsubsidized, PLUS loans, Perkins loans, and questions to ask lenders when getting a private student loan.
Week 2: Repaying Student Loans
Repaying Student Loans Options PowerPoint: Reviews when repayment begins on different Federal loans, different repayment options (Standard, Graduated, Extended, Income Contingent, Income Sensitive, Income-Based, Pay As You Earn, and Revised Pay As You Earn), Consolidation, Cancellation/Forgiveness Programs, Deferments, Forbearances, and Consequences of default.
Week 3: Federal Student Loans and the Military
Federal Student Loan Benefits and Repayment Options Available to the U.S. Armed Forces: Reviews Service Members Civil Relief Act Interest Rate Cap, Military Service Deferment, Deferments after active duty, HEROES Act Waiver, Department of Defense Repayment of Your Loans, and Veterans Total and Permanent Disability Discharge.
Week 4: Student Loan Repayment Options Analysis
Counseling/Coaching Clients with Student Loan Debt: Review of what should be included in a Student Loan Counseling session (Session Flow and Action Plan), Utilizing Repayment Estimator from studentaid.ed.gov, Pros and Cons of Direct Loan Consolidation, and importance of evaluating the entire financial situation (budget) to determine best repayment plan.
Speaker: Shelly Weber
Since joining BALANCE over twenty years ago, Shelly Weber has served the agency as a credit and housing counselor. Shelly conducts counseling sessions on a wide variety of topics including; mortgage default options, post-mortgage modification, student loan repayment, budgeting, and debt management. In addition to conducting one-on-one counseling sessions, she has also enjoyed facilitating group financial education workshops both in person and via webinar and has used her expertise in counseling to training others within the agency. Shelly’s commitment to providing quality counseling earned her the prestigious national PACE award for Counselor of the Year in 2001 and she was also recognized with a BALANCE Core Values Award for Integrity in February of 2018. Shelly lives in Santa Rosa, California where she works out of a BALANCE satellite office and is a HUD Certified Counselor along with the agency’s Student Loan Specialist.
Non-Members: $50 each / $200 for All Sessions
AFCPE Members: $40 each / $160 for All Sessions
**Looking for a webinar on college funding advice? Join us for our "Changing the Approach to College Funding Advice" webinar.**