There is one primary reason that people become clients of Student Loan Tutor: we save them more money than if they do it themselves.
In addition clients love that we remove the hassle of having to deal yearly with servicers and the Department of Education, having us stay up to date on the changes that frequently occur, and then adjusting your strategy accordingly.
We ensure you are in the proper loan types, with the right consolidations, repayment plan, tax filing status and income documentation.
Structuring the plan is only the beginning; higher education debt is in constant flux, and so is your financial situation. As student loan law or your life situation evolves, the strategy for maximizing savings may change dramatically. Many clients we meet who have been happily paying $0 per month have found that we can still save them up to 50% over the life of the loan with proper adjustments.
Most clients have misinformation as their guide: either the loan servicer (who is interested in collecting a debt) or online content that is biased (often encouraging federal borrowers to convert their debt into private student loans, lowering interest rate, but removing all subsidies, federal benefits, or any potential for full or partial loan forgiveness; not in the client’s best interest.)
We earn our revenue as simply as it gets: you pay us for services well rendered. We have earned every dollar, by helping our clients save thousands.
Most information online is put out by either the Department of Education, federal student loan servicers, or private student loan brokers.
You’ve seen how opaque the first is. If you call the servicers you will get a different answer every time.
Private student loan brokers masquerade as charitable knights in shining armor, here to teach you everything about student loans, and save your financial life. If you click on their link and end up refinancing your loans, they earn a large commission, and you lose all loan forgiveness. They even make money by placing ads throughout their sites. We don’t.
We work with our clients for the life of the loan, establishing strong and lasting relationships, and work primarily on referrals from satisfied clients.
We charge a flat fee for service. Again, it only makes sense to hire Student Loan Tutor to manage your student loans if it saves you a considerable amount of money, both immediately and over the life of the loan.
That said, we charge a refundable $150 deposit to secure a 60 minute planning call. If we are unable to help, this is refunded after the call. (If your balance is less than $100,000 the deposit is non-refundable).
If you decide to move forward, that $150 applies to our total flat fee for service. Our fees range from $750 to $1750 for the first year, depending on your situation.
If you are not in default on your loans, our fees for consultation and full service implementation are $1500.
We charge less than half of the first year fee thereafter, depending on what is required.
We do not require a contract. However most of this planning and execution, document prep, and communication needs to happen at least yearly.
All of our rates are flat fee each year – the fees cover all interactions and services.
If you’re not satisfied with the Planning Call with your Tutor for any reason we are happy to refund 100% of your $150 deposit. The only exception is if you have a balance lower than $100k because you'll definitely learn ways to reduce your loan cost on the call but the savings vs our fees might mean it doesn't always make perfect sense to become a client.
Yes, and if you are in default, working with us is even more valuable. We can immediately stop all incoming collection calls, and either help you consolidate out of default, or rehabilitate your loans with the lowest possible payments to the collection agency.
We then create a long-term strategy for reducing your monthly payments and interest accrual for the life of the loan, while realizing the greatest loan forgiveness possible.
You do not need anything before calling. (This is a major reason potential clients put off calling.) If you know your name and your email address, we can find the rest.
Of course if you have all of your FSA log-in information, financial statement, income documentation, tax documents and spousal information ready, that makes it easier. However, that is rarely the case. Most of our clients simply don’t know what to have ready, but call for our help anyway.
In other words, don’t wait, just book your call with us.
Please do your own research on us! Here are links to a few places you can see our reputation.
Facebook Reviews. As of this update we have 77 Facebook reviews on our page with real clients, sent directly from their Facebook profiles. If reviews are posted on our page, we cannot alter or delete them. (Incidentally, this is why many companies turn their reviews off.)
Client Testimonial Videos. We have been able to help many professionals so profoundly that they were happy to provide us with video testimonials. No one can better tell a client’s story than the client themself.
Our A+ rating with the BBB. Actually not as persuasive as the above: BBB allows businesses to correct a situation, and then negative posts are removed.
Google. No negative reviews, from any client, anywhere on the internet. “Google” us – such a record is nearly impossible to accomplish. If we were a scam, someone, somewhere, would have posted about it.
Generally, the easiest clients to work with, and the ones who gain the most financially, are in this category. They often overpay; they haven’t felt a strong enough sting in making rather large loan payments to research ways of reducing them (increasing cash flow).
They aren’t lowering interest accrual, often believe that forgiveness options don’t apply to them, and are generally the least informed. Unfortunately, they treat student loan repayment as they treat other debts, and have been focused on simply paying them off.
Combining subsidies that can be used by most borrowers with an increase in cash flow, reduced interest accrual, and reallocation of funds to pay off higher-interest debts can make a dramatic improvement to a borrower’s financial picture.
This query is a lot more common than you would think, which is how it made it to this page. Professionals often don’t know what questions to ask, and they put off taking the first step: calling. We don’t know what we don’t know, and this is how one can get stuck.
We specialize in working with doctors and other professionals with $50,000+ in student loans, and have worked with every scenario that one can imagine.
Our goal in part is to educate you, helping you understand the strategy we prepare, and then to do all the legwork for its immediate execution. Our clients come away with a completely new understanding of their student loans, and a sense of certainty and optimism. Whatever information needed to help, we access, with some minimal help from you, our client.
In other words, you’ve put this off long enough; pick up the phone and get the ball rolling. You’ll be happy you did.
This is one of the most common misconceptions, and one of the most costly. IBR – Income Based Repayment – is one of six different income-driven repayment options. However, IBR has become synonymous with IDR – Income-Driven Repayment.
If you can relieve the patient’s symptoms and improve their condition, one is often not apt to search for additional relief. We have many clients that contact us and are in an IBR repayment plan, and have what they believe to be a very low payment, sometimes as low as $0.
Why would someone that is a $0 IBR become a client? The reason is multifaceted. The way that interest accrues in IBR, one misses interest accrual subsidies that don’t apply. In fact, IBR is applied to virtually all loan types, but these loan types do not qualify for many subsidies and repayment/forgiveness programs. Often clients call us who think they have everything “dialed in,” but are the furthest off track.
We are either able to help your situation or we are not. If we are, it makes sense to become a client. This is not a value proposition. It’s a matter of cash flow and final cost of your degree. If you pay $85 per month and $50,000 total for your education, vs. $450 per month and $320,000 total, and the cost is under $1,000 to accomplish that, it would make financial sense.
If we are unable to reduce either the monthly payment, interest accrual or over all expenditure of your student loans, it would not make sense to become a client.
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