Graduation is coming soon. It might not be the grand occasion it used to be because of the coronavirus pandemic, but for many young people, their time in school is about to end. They will be facing real-world challenges and a major one involves money. Graduation is when they must start paying back all their college loans. Few are ready for the task of paying those large bills. Their financial wellness could take a hit.
The Mountain of Debt
College loans were the primary funding vehicle for their college experience. It isn’t surprising the resulting debt can be in the six figures. The monthly repayment statement is a big shock to many graduates.
They have never had to develop personal budgets or deal with significant bills. College graduates go from Ramen noodles and soda to grocery lists and utility bills. The college obligation is a major addition to already stressed finances.
Graduates will make some serious mistakes because they don’t know what to do. Ignoring the college bill, relying on forbearance, or filing for bankruptcy are a few of the blunders they make. Good advice and guidance are the best means of getting out of the mess. Countrywide Pre-Paid Legal Services knows how college debt can result in danger to someone’s financial wellness. We have a benefit that will help these graduates adjust to the real financial world.
Working with the Counselor
Good service means more than a call center to handle questions. Countrywide advocates personal contact as the best way to money resolve issues. Our nationwide network of certified counselors offers their experience and expertise to financial wellness plan members. It is easy to schedule a conference with a counselor who will give priority treatment to any of our members.
Knowledge Shared, Lessons Learned
Countrywide counselors provide invaluable service to a recent graduate. Our experts know all about college debt and how to manage it. Existing programs to help with payments and negotiating strategies for reducing interest rates are explored with the plan member.
A plan member must know how to manage money to handle college debt successfully. Our counselors will do a budget analysis to identify a person’s cash flow and spending habits. Any way to free up money for financing the loan debt will be explored. It often happens that a person finds out more about his or her finances through these meetings with the Countrywide counselor.
Empathy Is There
New college graduates are very sensitive to any offense. They want to be respected and treated like adults, which is precisely what Countrywide will do. Our counselors do not lecture but instead, find answers to problems. They will gently guide a person the right way of handling financial wellness issues. We insist on empathy from our counselors and that is what we get, and that is what the plan member will get.
Clients Work with Us
We ask our clients to help us in designing the financial wellness program. Those decision-makers know more about their staff than we do, and their insights are respected. Clients will choose the options that will be part of the plan and we will deliver on the services. All our clients can expect to receive the very best assistance from Countrywide staff and counselors.
College debt might seem to be a staggering problem, but it does not have to be that way. Financial wellness can be maintained as an individual pays down the college debt and, at the same time, can live on a budget. We want to help your employees keep their heads above hot water. We invite you to contact us at your earliest convenience and find out more about our benefits. What we have will help your staff.