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Cheated By Student Loan ‘Debt Relief’ Firm? Here’s What To Do

Dozens of companies charge high fees and claim to help borrowers reduce or eliminate student loan debt. You may be dealing with one, but you’re not stuck. You can end contact with such companies and apply to federal student loan programs for free through U.S. Department of Education websites. While not all companies that collect Read more >

Tips for Paying Off Student Loans

By Matt Biannuci The idea of student loans can be daunting, especially with the costs of education at historic heights. If you are already in the process of paying your loans, your monthly payment can be a stressful task that doesn’t feel like it’s making a dent in your overall balance, and, even if you Read more >

5 Ways Marriage Affects Your Student Loans

Marriage legally binds you to your spouse — but that doesn’t mean saying “I do” to another set of student loans. Each of you remains responsible for loans you took out before your wedding. But marriage can affect your loan payments, loan-related tax breaks and ability to pursue other financial goals. Here’s how. 1. Your Read more >

Want Your Student Loans Forgiven? Avoid These 4 Mistakes

For some of the 44 million U.S. student loan borrowers, the Public Service Loan Forgiveness Program is an incentive to pursue generally low-paying careers like teaching, firefighting and nonprofit work despite relatively high student debt. The government program offers tax-free loan forgiveness after 10 years for qualifying public servants. But only a few hundred people Read more >

3 Student Loan Risks Parent Borrowers Should Avoid

When Carol Coleman went to college, she didn’t need scholarships or financial aid to pay for her expenses. Her father gave her $800 a semester, and it was enough to cover all of her costs. Now, as a 51-year-old flight attendant and single parent, she’s shouldering $70,000 in Parent PLUS loan debt she borrowed to Read more >

How Does Student Loan Debt Affect the Economy?

Remember the 2008 financial crisis? You know, the one that economists say is the worst since the great depression. The crisis began due to issues in the subprime mortgage sector. These high-risk loans led to a large number of new homebuyers, which drove up housing prices, which led to people borrowing against their homes and Read more >

Student Loan FAQs

Student loan repayment can be very complicated.  We’ve compiled a list of frequently asked questions. Check out the answers below! 1. How are monthly student loan payments applied? Most monthly payments are applied to interest first then principal, if you become past due then the payment made goes first to the fees, then interest then Read more >

How Student Debt Impacts Home Buying

Student Loan Hero reports that the average college grad aged 20 to 30 makes a $351 monthly loan payment. There are multiple reasons some young adults have postponed home buying but one of them is their student loans. This echoes a commonly held belief that if you have student loans you can’t or shouldn’t get Read more >

3 Things Your Student Loan Servicer Might Not Tell You

Student loan servicers, the companies that manage $1.4 trillion in federal and private loans, haven’t been earning much trust among borrowers. Sixty-four percent of the 44,400 student loan complaints the Consumer Financial Protection Bureau collected between July 2011 and March 2017 involved problems borrowers had with their lenders or servicers, including not informing them about repayment options. That was almost Read more >

Who is the NFCC?

Founded in 1951, the National Foundation for Credit Counseling® (NFCC®) is the nation's first and largest nonprofit dedicated to improving people's financial well-being.

NFCC members help millions of consumers like you through community-based offices located in all 50 states and Puerto Rico. Each NFCC member agency has earned our seal by adhering to high standards and ethical practices designed to help you achieve financial stability.

Member agencies are able to offer their services for nominal fees based on their current funding status. Funding for operations and services comes from an ever-changing combination of federal, state and local government grants, as well as donations from financial industry participants and private donors.

For more on the NFCC, visit

Thank you to our funders.

The Sharpen Your Financial Focus program is an initiative of the National Foundation for Credit Counseling (NFCC) in partnership with a broad cross-section of supporters. Together, we are committed to increasing the financial well-being of Americans. This initiative is partially funded by Bank of America, Chase, Synchrony Financial, Wells Fargo and other major financial institutions. We thank all funders and partners who make this program possible. For more information, visit

National Foundation for Credit Counseling
2000 M Street, NW
Suite 505
Washington, DC 20036

For NFCC Media Inquiries:
Bruce McClary
Vice President of Communications