Private or Federal Student Loan

If you need relief from your student loan debt, your options depend on whether you have a private student loan or a federal student loan.
If you are unsure which you have you should call the lender or check the
National Student Loan Data System (NSLDS), to determine if your loan is funded by the federal government. If not, it is a private student loan.
Business Advisory Center Inc can help you get relief from a private student loan. These loans are made though banks, credit unions, state agencies, or schools. These lenders typically do not have any specific programs that provide relief for borrowers in financial distress. Our role is to  negotiate relief  on your behalf based on your situation and ability to pay.
If you do  have a federally insured student loan there are specific programs that may provide relief. These include income-based repayments plans and public service loan forgiveness. There has been criticism that these options have not been adequately publicized so you should research them carefully. Business Advisory Center Inc does not provide assistance with federal student loan relief as our expertise is in negotiating private student loans where there are no programs in place.

2 comments to Private or Federal Student Loan

  • sheila  says:

    My mother and I took out student loans for my daughter. We cannot afford to pay this any longer as we were paying over $600 a month. Is there any help for us?

    • Author  says:

      Yes, depending on whether you have a private or public loan we may be able to help you. Please contact me at or at 917-843-4174 to discuss.

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