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Student Loan Guidance and Support Services

  • Explore student loan repayment options.
  • Learn how to determine eligibility for student loan debt forgiveness.
  • Explore options for repaying other debt without acquiring additional loans.
  • Licensed in all 50 states.

Begin Your Journey

Fill out this form to begin your Student Loan Counseling!

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Student Loan Counseling Program

Money Fit is here to make handling student loans easier for borrowers. We focus on giving them the knowledge and tools to manage and pay off their loans in a smart way. Our main goal is to help borrowers make good financial choices from the start to the end of their loan journey.

Here’s what our Student Loan Guidance and Support program offers:

  • A Plan Just for You: Every borrower gets a personal financial check-up. We look at income, expenses, and other important stuff to create a loan repayment plan that fits just right.

  • Learning about Loans: We have tons of easy-to-understand resources to help borrowers get the lowdown on loan terms, interest rates, how to pay back loans, and what happens if loans aren’t paid on time.

  • Picking the Best Payback Plan: Money Fit gives one-on-one advice to help borrowers choose the best way to pay back their loans, based on their own money situation and goals. We talk about plans based on income, combining loans, and other options to make payback easier.

  • Help All the Way: Our support doesn’t stop. We’re always here to answer questions, give advice, and offer extra help when needed throughout the entire loan payback journey.

  • Beyond Loans – Being Money Smart: We also teach about other money topics like saving, investing, and building a good credit score to help borrowers be money-smart in all areas of life.

  • Money Fit Academy: We hold fun and interactive workshops to teach borrowers about budgeting, managing credit, and planning for their financial future. This way, they are ready to make smart money choices, not just with loans but in all areas of life.

Money Fit is all about making sure borrowers have the know-how, support, and tools they need to handle their student loans like pros and set themselves up for a bright financial future.

Empowering Your Financial Journey: Personalized Support for Student Loan Borrowers

Money Fit stands as a reliable ally for student loan borrowers, delivering a combination of detailed information and individualized support to skillfully navigate the multifaceted world of student loan repayment. Our approach is tailored, placing every borrower’s distinct financial circumstances and requirements at the core of our assistance.

Tailored Assistance: At Money Fit, student loan borrowers have the unique opportunity to connect with a Certified representative. This professional ally is committed to walking alongside you, deciphering and outlining the optimal pathways to effectively manage and reduce your student loan debt.

Your Blueprint for Effective Support:

  • Communication Accessibility: Leverage Phone, Zoom, or Skype for fluid, interactive communication. Our representatives are primed to offer visual guidance, bolstering understanding and clarity.

  • Knowledge of Your Debt: Equip yourself with the specifics of your student loan debt, including the amount and lender. This data is pivotal for a personalized, efficient consultation and the formulation of a strategic repayment plan.

  • FSLA ID Accessibility: Keeping your FSLA ID accessible ensures an expedited process, allowing us to customize our support in alignment with your unique loan specifications and needs.

  • Personal Login Management: Manage your online Loan or Federal Student Loan Aid logins independently, as the protocol restricts third-party intervention, safeguarding your privacy and security throughout the interaction.

Money Fit transcends conventional support; we are your partners, enabling informed decisions that usher you into a future free from the shackles of debt. Every interaction is a stride towards financial freedom and empowerment.

Money Fit is unwavering in its commitment to offer holistic support to student loan borrowers embroiled in the intricacies of loan repayment. Our essence is rooted in imparting enriched knowledge, bespoke strategies, and consistent support, ensuring every borrower is not just equipped to tackle loan repayment but is also poised for a thriving financial future.

Watch this helpful video discussing your student loan repayment options.

Key Components of Money Fit's Support Framework:

  • Customized Financial Analysis: Each borrower receives an in-depth assessment that evaluates their distinct financial landscape, including income, expenses, and other pivotal factors. This assessment is instrumental in crafting customized loan repayment strategies.
  • In-Depth Loan Knowledge: We offer access to comprehensive resources to deepen borrowers’ understanding of loan terms, interest rates, and repayment options. Presented in clear, simple language, these materials are designed to empower informed decisions and avoid the pitfalls of loan default.
  • Strategic Loan Repayment Planning: Our experts provide personalized advice on choosing the optimal repayment strategy, factoring in each borrower’s unique financial situation and objectives. We cover an array of options, including income-driven plans, consolidation, and refinancing, ensuring a fit for every need.
  • Consistent Support & Counseling: The journey with Money Fit is characterized by ongoing support. Our trained counselors are always available to address questions, offer guidance during challenging periods, and provide enhanced resources to ease the repayment journey.
  • Holistic Financial Wellness: Beyond student loans, we offer extensive resources on broader financial wellness aspects. Borrowers gain insights on savings, investments, and credit building, encapsulating a comprehensive approach to financial empowerment.
  • Empowering through Money Fit Academy: Our interactive workshops offer deep dives into pivotal financial concepts, including budgeting, credit management, and long-term financial planning. Borrowers are equipped with skills that transcend loan management, paving the way for a well-rounded financial outlook.

Money Fit is not just about tackling student loan debt; it’s about instilling a culture of informed and prudent financial stewardship. Our tailored support, enriched resources, and continuous guidance are designed to transform each borrower’s journey into one of confidence, empowerment, and ultimate financial liberation. We are committed to fostering an environment where managing student loans and attaining financial wellness is not just a goal but an achievable reality for every individual we serve.

 

Navigating Bankruptcy and Student Loans with Money Fit

At Money Fit, we understand the intricacies involved in managing student loans, especially when intertwined with bankruptcy. If you’re contemplating this route, it’s crucial to grasp the nuances and legal prerequisites associated with discharging federal student loans in a bankruptcy scenario.

The Intersection of Bankruptcy and Student Loans: Discharging federal student loans in bankruptcy isn’t straightforward; it requires initiating an “adversary proceeding.” This separate legal action petitions the bankruptcy court to acknowledge that repaying your student loan would inflict undue hardship on you and your dependents.

Deciphering ‘Undue Hardship’: Bankruptcy courts employ a multi-faceted approach to ascertain ‘undue hardship.’ While there isn’t a universal test, courts typically consider several core elements:

  • The imposition of a minimal standard of living if the loan repayment persists.
  • Conclusive evidence indicating the continuity of this hardship for a significant duration of the loan repayment term.
  • The borrower’s demonstrable good faith efforts to repay the loan prior to resorting to bankruptcy.

Connect with Money Fit: Facing challenges with student loan issues amidst bankruptcy considerations? Reach out to us at 800-432-0310. Our dedicated team is ready to provide guidance, support, and actionable solutions tailored to your specific circumstance.

For concerns related to both private and federal student loan products and services, the Consumer Financial Protection Bureau (CFPB) is a resourceful point of contact. Lodge your complaints or seek assistance through the CFPB’s online complaint system at https://www.consumerfinance.gov/complaint/ or make a call to 855-411-2372.

Money Fit’s Commitment: We’re committed to not just offering solutions but being your partner through the complex terrains of student loans and bankruptcy. Our holistic approach is designed to provide personalized, effective strategies, ensuring that each individual is equipped with the right tools and knowledge to make informed decisions, alleviate financial burdens, and journey towards a future of financial stability and freedom.

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© 2024 Money Fit by DRS
6213 N. Cloverdale Rd, Suite 130, Boise, ID 83713
Money Fit is a nationwide nonprofit 501(c)(3) organization. We do not lend money.

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Client Credit Report Authorization

You hereby authorize and instruct Debt Reduction Services, Inc. (DRS, dba Money Fit by DRS) and/or its assigned agents to:
  • Obtain and review your credit report, and
  • Request verifications of your income and rental history, and any other information deemed necessary for improving your housing situation (for example, verifying your annual property tax obligations and homeowner’s insurance fees)
Your credit report will be obtained from a credit reporting agency chosen by DRS. You understand and agree that DRS intends to use the credit report evaluate your financial readiness to purchase or rent a home and/or to engage in post-purchase counseling activities and not to grant credit. You understand you may ask any questions pertaining to your credit report. However, while DRS will review the information with you, the company is not able to furnish you with a copy of your credit profile. You hereby authorize DRS to share your information from your credit report and any information that you provided (including any computations and assessments produced) with the entities listed below to help DRS determine your viable financial options.
  • Banks
  • Counseling Agencies
  • Debt Collectors
  • Landlords
  • Lenders
  • Mortgage Servicers
  • Property Management Companies
  • Public Housing Authorities
  • Social Service Agencies
Entities such as mortgage lenders and/or counseling agencies may contact your DRS counselor to evaluate the options for which you may be eligible. In connection with such evaluation, you authorize the credit reporting and/or financial agencies to release information and cooperate with your DRS counselor. No information will be discussed about you with entities not directly involved in your efforts to improve your housing situation. You hereby authorize the release of your information to program monitoring organizations of DRS, including but not limited to, Federal, State, and nonprofit partners for program review, monitoring, auditing, research, and/or oversight purposes. In addition, you authorize DRS to have your credit report pulled two additional times to conduct program evaluations. You also agree to keep DRS informed of any changes in address, telephone number, job status, marital status, or other conditions which may affect your eligibility for a program you have applied for or a counseling service that you are seeking. Finally, you understand that you may revoke consent to these disclosures by notifying DRS in writing.

Client Privacy, Data Security, and Client Rights Policy

NOTE: This sheet is to inform new or returning clients about our services, records, fees, and limitations that may affect you as a consumer of our services. This form also discloses how we might release your information to other agencies and/or regulators. If you do not understand a statement, please ask a Debt Reduction Services (DRS) counselor for assistance.

Debt Reduction Services, Inc. (DRS) has put into place policies and procedures to protect the security and confidentiality of your nonpublic personal information. This notice explains our online information practices and how we use and maintain your information to conduct our financial education and credit counseling sessions and to fulfill information and question requests. This privacy policy complies with federal laws and regulations.

To provide our financial education and credit counseling services, we collect nonpublic personal information about you as follows: 1) Information we receive from you, 2) Information about your transactions with us or others, and 3) Information we receive from your creditors or a consumer reporting agency. We do not share this information with outside parties.

We use non-identifying and aggregate information to better design our website and services, but we do not disclose anything that could be used to identify you as an individual.

You hereby authorize DRS, when necessary, to share your nonpublic personal, financial, credit, and any information that you provided (including any computations and assessments produced) with the following entities in order to help DRS provide you with appropriate counseling or guide you to appropriate services: third parties such as government agencies, your lender(s), your creditor(s), and nonprofit housing-related and other financial agencies as permitted by law, including the U.S. Department of Housing and Urban Development.

To prevent unauthorized access, maintain data accuracy, and ensure the correct use of information, we have put in place appropriate physical, electronic, and managerial procedures to safeguard and secure the information we collect online. We limit access to your nonpublic personal information to our employees, contractors and agents who need such access to provide products or services to you or for other legitimate business purposes.

Debt Reduction Services, Inc. complies with the privacy requirements set forth in the HUD housing counseling agency handbook 7610.1 (05/2010), including the sections 2-2 Mc, 3-1 H(2), 3-3, 5-3 F, and Attachment A.5. At all times, we will comply with all additional laws and regulations to which we are subject regarding the collection, use, and disclosure of individually identifiable information.

  1. Services: DRS provides the following housing-related services: counseling that includes Homeless Assistance, Rental Topics, Pre-purchase/Homebuying, and Home Maintenance and Financial Management for Homeowners (Non-Delinquency Post-Purchase); Education courses that include Financial literacy (including home affordability, budgeting, and understanding use of credit), Predatory lending, loan scam or other fraud prevention, Fair housing, Rental topics, Pre-purchase homebuyer education, Non-delinquency post-purchase workshop (including home maintenance and/or financial management for homeowners), and other workshops not listed above.

Please refer to DebtReductionServices.org for details of our services.

  1. Limits: Our services are limited to our normal weekday business hours. We do not provide individual counseling or education services after hours or on weekends, although our education courses are available 24/7.
  2. Fees: We do not charge fees for our financial management counseling and education. However, if you use them, you may have to pay for our Debt Management Program, Student Loan Counseling, Bankruptcy Certificate Services or certain financial education courses (homebuyer education, rental topics, fair housing, predatory lending, and post-purchase-non-delinquency including home maintenance and/or financial management for homeowners).
  3. Records: We maintain records of the services you receive, including notes about your progress or other relevant information to your work with us. You have the right to access and view your records by making a request to your counselor.
  4. Confidentiality: We respect your privacy and offer our services in confidence with the understanding that we may share such information with auditors and government regulators. Certain laws or situations may also lead to disclosing confidential issues, such as those involving potential child abuse or neglect, threats to harm self or others, or court subpoenas.
  5. Refusal of Services: You have the right to refuse services without any penalty or loss.
  6. Disclosure of Policies and Practices: You will be provided our agency disclosure statement.
  7. Sharing of Information: Sometimes we will need to contact other agencies or we may need to share your information, including your records, with other agencies or with regulators. We will do this only if you sign this form that gives us permission except for limited reasons; please see # 5 above for examples of such situations.
  8. Other: You have the right to be treated with respect by our staff, and we expect the same from you in return. We encourage you to always ask questions if something is not clear. We also encouraged you to express your thoughts and advocate throughout our services.

You acknowledge that this authorization will remain in effect for the duration of time that DRS serves as your housing counselor or financial education provider. You also acknowledge that should you wish to terminate this authorization, you will notify DRS in writing.

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Disclosure  Statement

NOTE: If you have an impairment, disability, language barrier, or otherwise require an alternative means of completing this form or accessing information about our counseling services, please communicate with your DRS representative about arranging alternative accommodations.

Program Disclosure Form

Disclosure to Client for HUD Housing Counseling Services

Debt Reduction Services, Inc. and its financial education arm, Money Fit by DRS, offer the following housing counseling and educational services related to housing, personal finance, and bankruptcy certificates to consumers:
  • Housing Education Courses: DRS offers many online self-guided education programs classified as Financial, Budgeting, and Credit Workshops (FBC), Fair Housing Pre-Purchase Education Workshops (FHW), Homelessness Prevention Workshops (HMW), Non-Delinquency Post Purchase Workshops (NDW), Predatory Lending Education Workshops (PLW), Pre-purchase Homebuyer Education Workshops (PPW), and Rental Housing Workshops (RHW). These courses help participants increase their knowledge of and skills in personal finance, including home affordability, budgeting, and understanding the use of credit, as well as predatory lending, loan scams, and other fraud prevention topics, fair housing, rental topics, pre-purchase homebuyer education, non-delinquency post-purchase topics including home maintenance and/or financial management for homeowners, homeless prevention workshop, and other workshops not listed above relating to personal finance and housing. Course details are found below under “Housing Workshops.”
  • Home Equity Conversation Mortgage (HECM) Counseling (RMC): Via telephone and virtual platforms, we offer the required HECM counseling nationwide in addition to in-person counseling in Boise, Idaho. We also offer in-home counseling options in thirty counties across southern Idaho for an additional fee to cover our travel and additional staff time costs.
  • Home Maintenance and Financial Management for Homeowners (Non-Delinquency Post-Purchase) (FBC): Clients receive counseling and materials on the proper maintenance of their home and mortgage refinancing. Clients can find help and resources by phone, in our Boise office, or virtually on all topics related to stabilizing their long-term homeownership.
  • Services for Homeless Counseling (HMC): Clients receive phone, virtual, or in-person (Boise) counseling to evaluate their current housing needs, identify barriers to and goals for housing stability, establish a path to self-sufficiency, and connect with emergency shelters, income-appropriate housing, and/or other community resources (e.g. mental healthcare, job training, transportation, etc.).
  • Pre-Purchase Counseling (PPC): Clients receive counseling through the entire homebuying process. Assistance may involve creating a sustainable household budget, understanding mortgage options, building their credit rating, and putting together a realistic action plan to set and achieve homeownership goals.  Additionally, clients will receive materials and resources about home inspections and other homeownership topics relevant to successfully maintaining a home.
  • Rental Housing Counseling (RHC): Via phone, in-person appointments (Boise, ID), or virtual platforms, clients receive housing counseling relevant to renting, including rent subsidies from HUD or other government and assistance programs. Topics can also address issues and concerns having to do with fair housing, landlord and tenant laws, lease terms, rent delinquency, household budgeting, and finding alternate housing.
DRS also offers the following services:
  • A Debt Management Program (DMP) for consumers struggling to pay their credit cards, collections, medical debts, personal loans, old utility bills, and past-due cell phone accounts;
  • The Budget Briefing and Debtor Education Certificates that are required during the Bankruptcy filing process;
  • A Student Loan Repayment Plan Counseling and application service.

Relationships with Industry Partners

Through such services, DRS has established financial relationships with hundreds of banks, credit unions, and creditors such as American Express, Bank of America, Barclays, Capital One, Chase, Citibank, Credit One, Discover, Synchrony, US Bank, USAA, Wells Fargo, and others.

No Client Obligation

The client is not obligated to receive, purchase or utilize any other services offered by DRS or its exclusive partners to receive financial education or housing counseling services. Alternatives: As a condition of our counseling services, in alignment with meeting our client services goals, and in compliance with HUD’s Housing Counseling Program requirements, we may provide information on alternative services, programs, and products available to you, if applicable and known by our staff. Alternative DMP services include negotiating better repayment terms directly with your individual creditors, paying your debts as agreed, or, in extreme cases, filing for personal bankruptcy. Alternative credit and education services can be found through MyMoney.gov or the Jump$tart Clearinghouse of online financial education resources. Housing counseling alternatives can be found through HUD at www.hud.gov/findacounselor.
Finally, you understand that you may revoke consent to these disclosures by notifying DRS in writing.
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Housing Counseling and Education Fee Schedule

 

Online Education Program Fees*

Homebuyer Education Course: $59 per participant

  • Self-paced course available here, our online housing counseling and education center. Certificates will be automatically generated upon completion of the course (approximately 6-8 hours)

Rental, Fair Housing, Predatory Lending / HOEPA, Post-Purchase (Non-delinquency post-purchase workshop, including home maintenance and/or financial management for homeowners) Online Workshops: $49 per participant

  • Approximately 1 hour each

Other Self-Guided Financial Literacy Webinars (e.g. credit, budgeting, homeless prevention, debt prevention): $0

One-on-one Counseling Fees*

Pre-purchase Homebuying Counseling, Rental Counseling, Post-purchase Ownership Maintenance and Financial Management: $75

  • Session by the hour

Reverse Mortgage/HECM Counseling with Required Certificate:

  • $200†

Credit Report Fee: Paid Directly by Client

*Fees for all but our online education courses and workshops can be paid online by debit card, credit card, or PayPal or in person by cash, check or money order to: “Debt Reduction Services, Inc.” Registration fees are non-refundable 24 hours or less before the start of an in-person course or workshop. Certificates are non-transferable

*Fees may be waived for households with income of 150% or less of that identified on the US Department of Health and Human Services Poverty Guidelines Page

†Home visit counseling is available in 30 southern Idaho counties for potential HECM borrowers at additional costs to cover our travel (IRS reimbursement rates apply) and staff time ($50 per hour or fraction there).

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Housing Counseling and Education Fee Schedule

 

Online Education Program Fees*

Homebuyer Education Course: $59 per participant

  • Self-paced course available here, our online housing counseling and education center. Certificates will be automatically generated upon completion of the course (approximately 6-8 hours)

Rental, Fair Housing, Predatory Lending / HOEPA, Post-Purchase (Non-delinquency post-purchase workshop, including home maintenance and/or financial management for homeowners) Online Workshops: $49 per participant

  • Approximately 1 hour each

Other Self-Guided Financial Literacy Webinars (e.g. credit, budgeting, homeless prevention, debt prevention): $0

One-on-one Counseling Fees*

Pre-purchase Homebuying Counseling, Rental Counseling, Post-purchase Ownership Maintenance and Financial Management: $75

  • Session by the hour

Reverse Mortgage/HECM Counseling with Required Certificate:

  • $200†

Credit Report Fee: Paid Directly by Client

*Fees for all but our online education courses and workshops can be paid online by debit card, credit card, or PayPal or in person by cash, check or money order to: “Debt Reduction Services, Inc.” Registration fees are non-refundable 24 hours or less before the start of an in-person course or workshop. Certificates are non-transferable

*Fees may be waived for households with income of 150% or less of that identified on the US Department of Health and Human Services Poverty Guidelines Page

†Home visit counseling is available in 30 southern Idaho counties for potential HECM borrowers at additional costs to cover our travel (IRS reimbursement rates apply) and staff time ($50 per hour or fraction there).