Michigan Department of Treasury Salutes Class of 2017 as Partnership Program With Inceptia Continues
Lincoln, Neb. (June 5, 2017) – As thousands of Michigan college students celebrate their graduation this spring, the Michigan Department of Treasury (Treasury) is working in conjunction with Inceptia, a nonprofit company, to help residents who are facing challenges in navigating the loan repayment process.
Treasury is offering a one-year pilot program—which continues through January 1, 2018—to assist borrowers by providing free financial literacy information and one-on-one student loan delinquency counseling.
“This is an exciting time for graduating seniors, but for many of them, their first loan payments will be arriving soon. For these new alumni, the student loan repayment process can be complicated and difficult to understand,” said Randy Heesacker, NSLP president, and CEO.
“Inceptia, through this program with the Michigan Department of Treasury, is helping make the process easier to navigate so that graduates who have fallen behind on their payments can return to good financial standing.”
Michigan student loan borrowers currently delinquent on their loans can opt into the program. Participants work with counselors to develop a repayment plan that helps them return to good financial standing. In addition, they learn how to create a household budget and better understand their credit score.
To qualify, individuals must have federal student loans from a public or private nonprofit Michigan higher education institution, currently be delinquent on their student loans, and agree to provide their credit score twice during the pilot period.
“We’re pleased to salute every graduate’s achievements as they move to the next phase in their lives,” Heesacker added. “The Treasury program is one more way Inceptia is helping students get back on the right path to financial success.”
For more about the Treasury program, visit www.loanassistmichigan.org.
To read Inceptia’s “Great Advice for Grads Summer 2017,” including tips for living on an entry-level salary while paying students loans, how to avoid five money mistakes, and advice from graduates who have paid off student loan debt, visit https://www.inceptia.org/PDF/GreatAdviceForGrads_Summer2017.pdf.
Inceptia, a division of National Student Loan Program (NSLP), is a nonprofit organization committed to offering effective and uncomplicated solutions in financial aid management, default prevention, and financial education. Our mission is to support schools as they launch brilliant futures for students, armed with the knowledge to become financially responsible citizens. Since 1986, we have helped more than two million students at 5,500 schools reach their higher education dreams. Each year, we help more than 220,000 students learn how to pay for college, borrow wisely, resolve their delinquency issues, and repay their student loan obligations. Our solutions are designed to support student success by helping financial aid administrators maximize resources, so they can spend more time focusing on students. More information at Inceptia.org.