Schaibley: Free advice available on paying down student loan debt

Posted by: Andi Sommers  | Friday, March 5, 2021

STATEHOUSE (March 5, 2021) – Hoosiers working to pay down their student loans can receive free financial help to tackle their debt, according to State Rep. Donna Schaibley (R-Carmel).

Schaibley said borrowers can work one-on-one with an INvestED counselor during a "Student Loan Checkup" to analyze the types of loans a borrower has along with the interest rates, monthly payments, and repayment length and terms. During this checkup, Hoosiers can seek advice and use INvestED's savings calculator to determine the best course of action.

"Hoosiers take out student loans to help them pay for higher education and prepare for their career path after they graduate," Schaibley said. "However, some may struggle to pay these loans back years after college graduation. This program can help them develop a better strategy to pay down this debt."

According to Schaibley, recommendations include refinancing for a lower monthly payment, consolidating federal loans or paying off a loan sooner. INvestED is an Indiana nonprofit that offers free, confidential and exclusive advice to Indiana residents on avoiding and reducing student loan debt.

Hoosiers can seek advice anytime through INvestED's helpline at 317-715-9015, email or online chat function. To learn more about scheduling a checkup appointment with INvestED, visit Investedindiana.org.

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State Rep. Donna Schaibley (R-Carmel) represents House District 24,
which includes portions of Boone and Hamilton counties.
Click here to download a high-resolution photo.