Education shouldn’t burden you for life, it should enrich your life.

NYLAG’s Higher Education Financial Counseling Project (HEFCP) helps those who are:

  • Current or prospective students
  • Past students or graduates
  • Holders of student loan debt
  • Individuals interested in higher education who may feel they are unable to afford tuition
  • Defaulted or delinquent borrowers of education-related loans
  • Victims of debt and/or credit problems related to education, especially those who attended for-profit schools (Click here for more information about NYLAG’s For-Profit Schools Project)

HEFCP can help you with:

  • Understanding different types of student loans
  • Understanding payment options including understanding income-based repayment plans and other strategies, deferment, forbearance, and loan forgiveness
  • Understanding options for dealing with financial hardships
  • Understanding and dealing with consequences of default, including the credit implications of default, and the difference between consolidation and rehabilitation.
  • Understanding options for rehabilitating defaulted loans
  • Understanding pros and cons of loan consolidation
  • Applying for loan discharges (false certification, closed school, unpaid refunds, and disability)
  • Increasing financial literacy, including guidance on different types of loans, and the income level required to meet payment obligations after graduation
  • Creating a viable financial plan for the future including reviewing FAFSA financial aid process for eligible students

At this time, we are only offering these services to current NYLAG clients and their families. If you are a client and wish to access these services, please discuss the Higher Education Financial Counseling Project with your case handler. 

Funding for this project provided by the Muriel F Siebert Foundation.