Student 1st Takes Aim at Student Loan Defaults

May 13, 2011 - PRLog -- Student 1st works with student loan borrowers who struggle to make payments, and they have now started helping graduates with defaulted loans to avoid negative repercussions and bring loans back to good standing. Their web site, www.student1st.com, has been revamped to address the needs of delinquent and defaulted student loan borrowers.

Student 1st loan experts have backgrounds in finance, law, and educational management. They work with both students and schools to reduce delinquencies and negotiate with lenders for reasonable payment plans.

Americans currently have about $900 billion in student loan debt, which surpassed credit card debt in 2010 and is expected to top $1 trillion in 2011. Many of these borrowers don’t know where to turn when they have trouble making payments, and Student 1st works with lenders to obtain solutions that fit students’ needs.

According to the Institute for Higher Education Policy, 41% of borrowers face the prospect of delinquency or default. Two-fifths of borrowers become delinquent in the first five years of repayment. This figure doesn’t even include high-risk private student loans.

With PayPal co-founder Peter Thiel comparing student loans to the housing bubble as a subprime crisis waiting to happen, Student 1st has reached a huge segment of student loan borrowers who want to keep their loans in good standing and avoid default, but don’t know what their options are or how to pursue them.

Student 1st works on behalf of students directly with private and public lenders to structure repayment schedules that fit borrowers’ needs. They have had particular success with students from for-profit schools. Nearly half (43%) of all federal student loan defaulters attended for-profit colleges, even though these institutions only enroll about 10% of students.

In the coming months, Student 1st will seek to expand its existing partnerships with colleges. New regulations take effect in 2014 to sanction schools with high student loan default rates, and Student 1st default aversion programs have been instrumental in helping students gain financial control over their futures.

For additional information, visit www.student1st.com. Student 1st adheres to a strict code of ethics. All borrower and institutional information is confidential.

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Student 1st provides student loan help and solutions to borrowers, parents, and colleges nationwide. They are experts in both federal and private loans, and work with everyone from borrowers in grace periods to those trying to get out of default.