Student Loan Ranger helps prospective and current students and recent graduates make sense of borrowing options, student debt and loan repayment. Previously authored by the nonprofit American Student Assistance, the blog is currently authored by the National Foundation for Credit Counseling, a nonprofit financial counseling organization. Through its national network of certified counselors, the NFCC empowers consumers tackling student loans, credit card debt and other money matters.

Navigating through the world of student loan repayment can be difficult. Among the nearly 45 million Americans with student loans in repayment, 2.1 million borrowers are more than 90 days delinquent in paying that debt, according to the Federal Reserve Bank of New York. The New York Fed's data shows that 4.8 million student loan borrowers are in default, proving this is a widespread problem. With all the different repayment options, knowing which one is right and understanding the implications of each payment plan may be challenging – especially for borrowers who are already delinquent or in default and need help remedying their situation. In recent years, there's been a rise in companies offering loan forgiveness and reduced payments. While these are very alluring to debt-ridden consumers, many of these offers that sound too good to be true are scams. Spoiler alert: There's no quick fix for student loan debt. It will most likely take some time to repay. To increase awareness of student loan relief schemes, the Department of Education is coordinating efforts with the Federal Trade Commission. Borrowers who are finding repayment difficult can learn whether they qualify for certain options, such as student loan deferments and forgiveness or discharge programs through their loan servicer at no cost.

But this can be a daunting task for consumers who need help determining which option is right for them. It's important for borrowers to know who they can trust and when they should reach out for help with their student loans. One resource for understanding repayment options is nonprofit student loan counseling. Here's what borrowers need to know if they're interested in working with this type of counselor. Nonprofit student loan counselors can help steer borrowers toward informed choices. The goal of nonprofit student loan counselors is to help consumers understand their options and equip them with the knowledge they need to conquer their student loan debt.

Nonprofit student loan counseling typically begins with a thorough evaluation of a client's overall financial picture. The evaluation allows a counselor to have a better understanding of the individual circumstances to make the best recommendations. The counselor will go over monthly income and expenses and pull a credit report for a list of debts, including all student loans. The counselor can then help the client develop a repayment strategy that makes the most sense. Recent college grads and those struggling with repayment can benefit. Anyone who has questions about their student loan repayment, is struggling to afford their current payment plan and needs help navigating their options can gain guidance from a well-versed student loan counselor. Student loan counseling is accessible and affordable. The organization that writes the Student Loan Ranger blog, the National Foundation for Credit Counseling, provides this type of counseling. To find a student loan counselor, visit the NFCC's website, which connects consumers to accredited nonprofit student loan counselors near them. The cost varies based on the member agency's fee schedule and dues set by the borrower's state of residency. Some funds are available through the NFCC to provide scholarships to consumers needing student loan counseling; these funds can be used for a student loan session provided by a member agency.

Fees vary based on the level of involvement the counselor has in the process. If a borrower needs hands-on assistance filling out the application for a repayment program or wants the counselor to contact the loan servicer directly, the fees are higher. Other trusted options that provide similar services include the Education Finance Council and The Institute of Student Loan Advisors. Counseling sessions are personalized. During a typical session, a certified student loan counselor will review each loan, explore repayment options and develop a customized plan. It's also an opportunity for counselors to educate borrowers on the pros and cons of programs that are available, strategies to reduce the amount of interest paid over the life of the loan, steps to ensure timely repayment and options for keeping repayment affordable. For consumers who are delinquent, the counselor conducts an in-depth analysis. Delinquent or defaulted loans will be addressed, and the counselor will help create a personalized plan to bring delinquent loans current and rehabilitate any defaulted loans. If needed, the counselor will help complete the application process for securing a student loan repayment option and contact your loan servicer directly. Counselors work as advocates in helping those who are struggling with their student debt. The Student Loan Ranger feels strongly that no borrowers should have to navigate the harrowing journey of student loan repayment alone. If you're struggling with repayment, reach out to a nonprofit counselor or your servicer. These are trustworthy resources for student loan debt relief.