Debt Free Life: Help Your Clients with Student Loans

In 2019, college students between the ages of 25-34 carried approximately $500 billion in federal student loans . Altogether, student loans in general total around $1.75 trillion between private and federal loans in the United States. Debt from student loans is something many Americans face, especially the younger generations, and for those with student loans it can be one of the most burdensome debts they’ll carry.

While the federal government is working on ways to help ease the financial burden for most borrowers, there is only so much that they can do. What’s more, the slow wheels of bureaucracy mean that federal help with student loans might be a ways away still.

As a life insurance agent, there are ways you can help your clients find financial freedom and achieve a debt-free life. While many will receive federal help in eliminating a portion of their loans, you can help them with an insurance product that can take care of the rest.

Here we will break down the federal government’s plans to help ease the burden of student loans and how our Debt Free Life product can take care of the rest. Help your clients kick debt to the curb with Debt Free Life.

Student loan forgiveness

In August 2022 the federal government proposed a student loan forgiveness plan. This plan was introduced after student loan payments (and their interest) were paused by the federal government after the start of the COVID-19 pandemic.

The proposed plan would make a payment of up to $10,000 on behalf of all eligible borrowers (and an additional $10,000 for anyone who received a Pell Grant). This would help a lot of Americans struggling with paying off their education – while some with higher amounts of debt might feel like it’s a drop in the bucket.

In conjunction with this proposal, the Department of Education also implemented a Start Fresh program , which would allow any borrowers to get their loans out of default if they had missed too many payments. Eligible borrowers can apply for this program up to one year after student loan payments have resumed.

Introducing Debt Free Life

A proprietary product from our parent company, Quility, Debt Free Life (DFL) is an insurance product that has reimagined what life insurance coverage is capable of. With Debt Free Life, we can help our clients eliminate debt and reach their financial goals in less time and without spending more on bills than they already are.

Would You Like to Request a Quote?

Please visit my website for more information or Send a message

https://bit.ly/Debtfreelifestyle