GradFin can help reduce student loan delinquency rates

As of August 2015, there is $111 billion of student loan balances in delinquency (student loans 30+ days late).  That number is staggering and is not getting enough attention.  The chart below shows the climbing delinquency rate for borrowers, which is hovering in the high teens as of the 4th quarter 2014. The Fed says student loan delinquency rate is much higher than for any other type of debt, such as credit card, mortgages, and auto loans.

There is a dearth of opportunities or solutions for people struggling to make ends meet.  Most borrowers are not eligible for refinancing, and policy makers in Washington have no clear road map to address this problem.

Fortunately for borrowers, GradFin will be introducing new solutions to help repay student loans fast.  

GradFin is helping companies set up employer match programs so they can assist their employees with student loan payments.  This could have a favorable impact on reducing delinquencies of student loans.  The more companies that participate in employer assistance programs, the more likely that they will hire people struggling with paying their student loans.  We'll need full scale participation from companies to have the greatest impact.  

GradFin is recruiting companies to participate in our student loan employer assistance program.  Contact us today for full details. Student loan borrowers deserve more options, and GradFin will help us make the delinquency rate go in the other direction, which is better for America.