{5:48 minutes to read} I wanted to welcome John DiGregorio and Natalie Luongo from the National Student Loan Service Center (NSLSC). Recently, we got together so that I could interview them on the very important service the center provides.

So often, we talk about our blind spots and trying to protect our clients’ wealth from things of which we are not aware. Being in the financial service business for 32 years, I thought I knew pretty much what I was talking about on most subjects.

My son and daughter went to college. We took out some small loans and are making payments on them. John DiGregorio was introduced to me some time ago by a friend who said he might be of help to me or my clients. After I met John, I became aware that, because the loans are in my children’s names, payments could potentially be much less expensive for me.

John and Natalie, please share with us your mission, what you do, and how you can help people become aware of the options available to them.

John: As we all know, there is $1.3 trillion in student loan debt in this country. Many individuals do not even realize that there are repayment programs that are essentially predicated on affordability versus the size of the loan.

What we try to do as a business is reach out to many individuals and different sectors to explain what federal student loan forgiveness is all about and what discounts their particular situation might qualify them for.

Michael: What you do is tremendously valuable, because the difference in the monthly loan payment can potentially go from $200-$300 a month to $20 or even $0. How does NSLSC make money helping people lower their loan payments?

John: What we do is free of charge. We speak to groups of people and to individuals. We want them to be completely aware of what federal student loan forgiveness is all about. Once we’ve done that, we sit down with a client individually and in private. We gather some information from them such as:

  • Their adjusted gross income;
  • Their marital status;
  • If married, how they file taxes: jointly or individually;
  • How many mouths they feed in their household;
  • Their employer;
  • And so on and so forth. We put all that information into our software and then generate a report of the various repayment plans that this individual will qualify for.

    If the individual is happy with the results and would like to move forward with us, then there is a fee. The process usually takes anywhere from 45-90 days to complete.

    Michael: What really struck me about your service is the public’s lack of awareness. I’m sure there are many people out there that are just paying these loans off, totally unaware of the opportunity that the NSLSC can provide.

    Natalie: Most people are not aware of this service. If they are, they have looked into it themselves, going to the federal government site which takes them through pages and pages of questions. For the most part, the individual gets off the computer extremely confused and not sure where they fit in.

    When they meet with us, they get a very clear picture of what the service can offer, as well as a complete understanding of next steps and how to get to that end result.

    Michael: Before doing this interview, I went through the process with your company, and I was pleasantly surprised as to the clarity of my choices.

    John: I think people also should be aware that all the information provided, whether it be general or specific to their needs, is free of charge. There is nothing to lose by at least knowing what they qualify for. I think anyone who has a federal student loan would benefit from the services that we provide.

    Natalie: There is help for everybody who feels bogged down by a federal student loan. There are very aggressive programs based on income, family size and situation that people should definitely be taking a look at to see if they can get any type of forgiveness.

    Michael: For me, it was a real education to realize these resources are out there. There are tremendous opportunities for graduating students who are not making a lot of money when they get out of college and are facing these big loan payments.

    If there is anyone reading this blog who wants more information, go to the website, National Student Loan Service Center, contact me, or contact John and Natalie at the numbers listed below.

    John DiGregorio
    888-384-0877 ext 114

    Natalie Luongo
    888-384-0877 Ext 105
    888-519-9037 fax

    Michael Fliegelman, CLU, ChFC, AEP, RFC
    Founder / President, Strategic Wealth Advisors Network
    (631) 262-9254
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    Brokerage Director, MassMutual


    Please note that the information being provided is strictly as a courtesy. Always confer with your CPA prior to attempting to take any tax deduction. Michael Fliegelman is not a CPA, nor should the contained be considered tax “advice”.

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