MyCreditCounselor Student Loans Experts Believe Private Student Loan Forgiveness Won’t Happen


Any government action will unfortunately only affect federal loans and will not result in the cancellation of private student loans as people often assume. According to MyCreditCounselor, the only real path to forgiveness / cancellation for most people with a private student loan is through a negotiated settlement.

Columbus, Ohio, United States, November 04, 2021 (GLOBE NEWSWIRE) –

The government action, according to MyCreditCounselor, is not going to help students get private student loan forgiveness. One of the main reasons is that the government does not have the power to force private lenders to write off or write off debts. There is even a question of whether the federal government and the executive have the power to cancel federal student loans.

The question many students with private student loans should ask themselves is, “How do I get a settlement,” says Andrew Weber, owner of MyCreditCounselor. The company says it’s possible to get the lowest possible private student loan settlement, but it’s not easy. Carefully planned strategies, relationships with lenders and a lot of experience are required. However, with the help of experts, some students were able to settle as little as 31% of the outstanding loan balance recently. Older defaults can settle for less.

There has been a lot of talk lately about canceling student loans or forgiving student loans. However, the discussion and all efforts of the legislative or executive branch are focused exclusively on federal student loans and not on private loans. Even if federal student loans were to be canceled, it would not help students get their private student loans canceled, and since they represent less than 10% of the total student loan market, this is simply not the case. not the government’s goal. That said, students can still negotiate a settlement if they know how, or hire an expert to do it.

Negotiating a student loan settlement with a lender is often a long and complicated process. Each lender can have drastically different policies, and their debt collectors are very experienced in manipulating borrowers to disclose financial and other sensitive information. That’s why borrowers with outstanding private student loans will want to hire someone like the professionals at MyCreditCounselor, a company run by a certified credit counselor and student loan counselor with nearly a decade of experience in the business. negotiation of private student loans.

Readers can learn more about how to get a private student loan settlement by visiting the company’s official website at

“Unfortunately, private student loans will never be forgiven by government action – the federal government does not have that kind of control over private lenders and banks. Private loan borrowers are an afterthought when it comes to it. student loan legislation and executive action, as they represent less than 10% of the total student loan balance of $ 1.8 trillion in the U.S. However, these loans are particularly inflexible. and cause significant problems, unlike federal student loans. ”Said the CEO of MyCreditCounselor.

About MyCreditConselor

MyCreditCounselor is led by Andrew Weber, a certified student loan advisor who specializes in negotiating private student loan settlements. The CEO provides a “no frills, no upfront” settlement negotiation service on behalf of people with private student loans. He has negotiated deals with large private lenders such as Navient, Sallie Mae, Discover, Wells Fargo, Keybank, Chase, Citibank, Citizens Bank, Turnstile Capital Management and The National Collegiate Trust, as well as numerous small private student lenders.


CONTACT: Name: Andrew Weber C.C.C. Organization: MyCreditCounselor Address: 470 W Broad St #1039, Columbus, OH 43215 Phone: 937 203 3533

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