Consumer Credit Counseling Service of Greater San Antonio

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					                                                                                                Contact: Cynthia Hazel
                                                                                                May 17, 2012

Consumer Credit Counseling Service of Greater San Antonio Press Release
For Immediate Release
                               Consumer Credit Counseling Service of Greater San Antonio
                                              Weighs in on Student Debt

San Antonio, TX – College students across the nation right now are mailing out graduation invitations and preparing for
the job hunt ahead of them. But along with graduation comes the sobering reminder that student loan repayment will
soon be due. With the Head of the National Association for Bankruptcy Attorneys calling student debt the economy’s
next debt bomb, there’s reason for concern.

Defaulting on student loans can severely affect a person’s credit and could potentially cause a wave of side effects that
most students don’t know about. For example, many are unaware that employers can check job applicants’ Credit
Reports during hiring decisions. A spotty credit history or student loan default could be what prevents recent graduates
from getting their first job out of school.

Student loans are also considered secured debt and are rarely dismissed in bankruptcy cases. Whether a student
graduates or not, the debt must be repaid. Repayment can be taken from garnished wages, income tax refunds, and
social security benefits.

However, there are repayment plan options and loan forgiveness programs available. Non-profit financial counseling
agencies like Consumer Credit Counseling Service of Greater San Antonio (CCCSSA) can combine students’ credit card
debt and student loans in a Debt Management Plan, helping them by lowering their overall payment and developing a
budget designed for their personal situation.

The government also offers loan forgiveness programs in the form of Public Service. After 120 student loan payments
and ten years of full-time employment in a non-profit or government position, qualifying applicants will have any
remaining student debt forgiven. Income-Based and Income-Contingent Repayment Plans are available as well and are
based on a number of factors, including a person’s income and their amount of debt. President Obama has also
proposed a “Pay as You Earn” plan that will be available to student debtors later this year.

For more on student debt and repayment options, contact CCCSSA at (210) 979-4300, or (800) 410-2227 toll-free. Visit
our website,, for more information.


CCCSSA is a member of the nation’s largest and longest serving national nonprofit credit counseling organization, the National Foundation for
Credit Counseling, Inc. Their collective mission is to provide services to consumers to help them achieve financial wellness through financial
management counseling, financial education and when appropriate debt reduction services through debt management plans. As a condition of
membership, CCCSSA is required to maintain high quality services through and the NFCC.

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