Problem: Student loan borrowers are inundated with advertisements from refinancing lenders and unscrupulous “debt-relief” companies. Borrowers experience widespread loan servicing failures including application processing delays, inaccurate application denials, improper allocation of payments, and lost or misdirected paperwork. The impact of student debt is wide, and the system is complex. Free online resources, university financial aid offices, and loan servicing companies fail to deliver the personalized guidance borrowers need. Traditional financial advisors are ignorant about the nuances of student loan repayment and forgiveness programs and so may give borrowers bad advice.
Vision: Student loan borrowers need a reliable way of identifying whether financial advisors are knowledgeable about student loans. We are working to build a network of dedicated, competency-tested, licensed, and vetted financial and tax advisors delivering student loan guidance with the duty of care of a fiduciary. The impact of student debt reaches into nearly every aspect of a borrowers finances. We believe that well-qualified financial advisors can improve the financial security of the student loan borrowers they represent, promote fairness in the system, and advocate for borrower-friendly change.