Student loan debt can be confusing. What if you cannot pay the debt no matter how much you want to do so? Managing your student loan debt requires careful planning but also knowing what resources are available to help you meet your financial obligations in the long term. Here are some of the most important resources to turn to for help.

Types of Assistance Available

The following are some resources to help you to manage your student loan debt.

Loan Servicers and Counseling

Your loan servicer, or the company overseeing and managing the payments on your loans, will provide you with initial support for most needs. That should be where you start when it comes to getting help with your loan. They may be able to help you in various ways:

• Determine if there is any way to restructure your loan to make payments easier.
• Provide insight into forbearance.
• Give you insight into how to reduce your costs.
• Work with you to get caught up on late payments.
• Help you consider alternative solutions instead of missing payments.

If you are struggling to make payments on your loan, your loan servicer will have access to the counseling services available to help you. These services will work closely with you to determine how much of a monthly payment you can afford while also providing insight into your legal rights for those loans.

Financial Advisors and Credit Counselors

There are some situations where you may be unable to find a solution. You have tried to work with your loan servicer, and things do not seem to be going how they should. You are facing more significant financial difficulty due to factors like missing payments on credit cards or other loans. In these situations, look for help beyond your loan servicer and student loan lender.

A general credit counselor will work with you to help you create a budget and build out loan payments that are more in line with your financial obligations. A credit counselor will work with you and your creditors to create a repayment plan more aligned with your financial circumstances. They may be able to negotiate with some of your lenders on your behalf.

Another option is to turn to a financial advisor who can support building financial health beyond just paying down debt. They can help you create a plan where you are saving and investing money to find long-term financial health for yourself and your family.

Government Programs and Resources

Various tools are available to help those with a student loan to find the financial support they need. Sometimes, this means reorganizing or structuring your debt so it is easier for you to repay.

The U.S. Department of Education is a go-to resource to turn to – you can contact them for immediate help. You can also follow their steps and strategies for paying down your debt, getting caught up on your student loan debt, and seeking loan forgiveness programs. Look at the Federal Student Aid program to learn more about your options. That includes government resources to help you through immediate, temporary, and long-term financial difficulties.

Online Tools and Resources

A wide range of resources exists that may be able to help you with the management of your student loans and other debts, including organizations such as:

• National Foundation for Credit Counseling
• American Consumer Credit Counseling
• The Institute of Student Loan Advisors
• National Consumer Law Center
• National Association of Consumer Advocates

Also, note that you have tools available to help you if you struggle with loan payments or find your loan servicer unjust. Turn to the Federal Student Aid Feedback System to provide feedback. You can also contact the Federal Trade Commission or your state's Attorney General for legal options.

Be Aware of Student Loan Assistance Scams

Unfortunately, student loan assistance scams are numerous. These scams may try to obtain your personal information to exploit it or charge high fees for the help they promise to provide you. Don't fall for those scams. Monitor for these warning signs of student loan scams:

• They try to make you pay for services upfront before they do anything for you.
• They promise that you will see immediate student loan forgiveness if you apply with them.
• They guarantee that they can get your debt canceled.
• They say they can remove your debts from your credit report.
• They ask you for Federal Student Aid information or your details.
• They state they are from the U.S. Department of Education or the lending servicer.
• The company requires you to sign a third-party authorization contract or form before they can talk to you.

If you are facing any scams like these, take action now. Contact the Consumer Financial Protection Bureau to get help.

When to Seek Assistance

Numerous resources exist to help you stay current on your student loan payments. Even more, resources are available to help you get support if you've fallen behind on payments. Don't wait. If you are unsure of how you will continue to make payments or are struggling with your loan servicer, contact a professional for guidance and help.