Gesher Human Services Offers Free Student Loan Payments Webinar on Budgeting, Refinance, and Loan Forgiveness October 6, 2023!
Gesher Human Services, one of the largest human service agencies in metro Detroit, is offering a free webinar to Michiganders struggling with student loan repayments now that the three-year payment moratorium has ended. The nonprofit organization, which offers financial education to metro Detroiters, has been receiving calls from worried families unsure of how they will cope with finding hundreds of dollars more each month out of their already-stretched incomes.
A report by Education Data in 2022 showed that Michigan residents
had a student loan debt of $51 million, with 52 percent of them under the age of 35. The average student loan debt was $36,116, with 14 percent of Michiganders being burdened by student loans. The free webinar will be available via Zoom on Fri. Oct. 6 from 1 – 2 p.m. with registration available at bit.ly/gesherstudentloans.
The student loan webinar will help participants
to confirm how many loans they have, explore refinance and budget options, and review recent loan forgiveness options including those that are income driven.
“Interest rates are at an all-time high, gas prices are high, and food prices continue to rise too,” said Financial Education Manager Laltsha Cunningham. “People are very nervous about how they are going to find an extra $300 or $400 a month to cope with loan repayments which begin again in October. And regulations have changed so much recently that it is confusing for everybody.”
Cunningham explained that part of the program would also provide attendees with information
on how to create and budget the education debt payment into their overall household bills. Resources will also be provided on understanding payments and payment calculations, and how some individuals may be able to receive student loan reductions based on their employment.
For example, employees working for a nonprofit or the government may be eligible for loan forgiveness, cancellation, and/or consolidation under the Public Service Loan Forgiveness program (PSLF) if they have made 120 qualifying payments.
For those who are struggling with student loans or other debt,
and who need more individualized financial counseling, Gesher Human Services offers one-on-one free counseling. Email financialhelp@geshermi.org or call 248-233-4299.
About Gesher Human Services
Gesher Human Services is a non-profit organization providing a bridge to hope and opportunity for people at work, at home and in the community. It is dedicated to helping people across metro Detroit lead more stable and fulfilling lives through workforce development, career mobility, behavioral health, inclusion programming and residential services that serve all metro Detroiters while meeting the needs of the Jewish community.
The organization works with job seekers, people with disabilities, older adults, and the community at large to provide skills, support, and equitable opportunities for people to succeed. Uniting two of metro Detroit’s most influential Jewish human services agencies, JVS Human Services and Kadima, Gesher brings over 110 years of combined experience facilitating equitable employment opportunities and better mental health outcomes for residents.
With a network of more than 400 employees and volunteers across 25 locations in southeast Michigan, Gesher delivers a continuum of services and support that directly impacts the lives of over 26,000 individuals and families annually. More information at www.geshermi.org.
