Student loan debt rose to $1.51 trillion last year, according to the Federal Reserve Bank of New York. For many clients, dealing with their share of this burden is a major planning concern.
Fortunately, many programs exist to help student borrowers with repayment. If you have clients who are managing student loans or have a family member who is doing so, they might welcome talking about the student loan relief solutions reviewed below. In particular, it’s important to remind clients that the relief provisions offered by the Coronavirus Aid, Relief, and Economic Security (CARES) Act are set to expire on December 31, 2020.