ACCC Launches New Video Series On How To Pay Back Student Loans

American Consumer Credit Counseling videos take viewers through the variety of options that are available when repaying loans.

Boston, MA – January 23, 2017

National nonprofit American Consumer Credit Counseling launched a new, three-part video series on how to repay student loans. The videos take consumers through a variety of options that are available when it comes to paying back student loans so that they can most effectively manage their debt.

“The process of paying back student loans can be intimidating and stressful, particularly if graduates don’t understand how these loans work and the various repayment options available,” said Steve Trumble, President and CEO of American Consumer Credit Counseling, which is based in Newton, MA. “It’s crucial that consumers understand the repayment process so that they can effectively manage their debt and avoid delinquency, which can destroy credit and lead to deeper financial problems.”

The three-part series includes videos on Student Loan Deferment & Forbearance, Student Loan Consolidation and Student Loan Repayment Options. Depending on the conditions of the loans, most students must begin the repayment process as early as six months after graduation. It is important that students understand all of the student loan repayment options that are available to them through various programs.

“If you default on your loans, the government can intercept your tax refunds and garnish your wages,” added Trumble. “If you are unable to meet the terms of your repayment, you may want to consider other options such as deferment, forbearance or student loan forgiveness.”

The Student Loan Deferment & Forbearance video explains that if a student meets the criteria, they may be eligible to receive deferment or forbearance, which would allow them to temporarily postpone or reduce their Federal Student Loan monthly payments. During deferment, the repayment of the principal and interest on the student loan is delayed, but only temporarily. Forbearance allows a student who does not qualify for deferment to stop or reduce their payments for up to 12 months, but interest will continue to accrue. Deferment and forbearance help students avoid defaulting on a loan, even during financial hardship.

The Student Loan Consolidation video explains how those with multiple federal education loans have the option to consolidate so that the repayment process is easier by combining the existing debt into one single loan. With consolidation comes a list of pros and cons. An advantage to loan consolidation is lower monthly payments, but these lower payments lead to a longer repayment period. Student loan consolidation gives students a simpler strategy when they find themselves with too many monthly payments that are too high. 

The Student Loan Repayment Options video breaks down the repayment plans into standard and longer repayment plans. The standard plans have the least interest and usually take 10 to 15 years to repay. These options include standard repayment plan, graduated repayment plan and income sensitive repayment plan. The longer repayment plans are based on income and family size and can take 20 to 25 years to repay. These plans include extended plan, income-based repayment plan, income-contingent repayment plan and income sensitive repayment plan.


ACCC is a 501(c)3 organization that provides free credit counseling, bankruptcy counseling, and housing counseling to consumers nationwide in need of financial literacy education and money management. For more information, contact ACCC:

  • For credit counseling, call 800-769-3571
  • For bankruptcy counseling, call 866-826-6924
  • For housing counseling, call 866-826-7180
  • Or visit us online at

About American Consumer Credit Counseling

American Consumer Credit Counseling (ACCC) is a nonprofit credit counseling 501(c)(3) organization dedicated to empowering consumers to achieve financial and credit management through credit counseling, debt management, bankruptcy counseling, housing counseling, student loan counseling and financial education. As experts in debt and credit management, ACCC believes that many of the same principles applied to recovering from significant credit card debt can be applied to student loan assistance and repaying student loan debt. ACCC’s student loan counselors help consumers sift through the confusion of student debt relief options in order to make better informed decisions regarding repayment. ACCC also provides prospective, current, and past students and their families with the information and resources necessary to make the best possible personal finances decisions about their college education and to help successfully maneuver the repayment process without relying on credit card debt or additional loans. ACCC holds an A+ rating with the Better Business Bureau and is a member of the National Foundation for Credit Counseling® (NFCC®). For more information or to access free financial education resources, log on to or visit