Skip to Content

American Consumer Credit Counseling Helps Millennials Manage Student Loans


With the rise in college tuition ACCC offers tips on how to manage student loans.   How to manage student loans

(Boston, MA) – November 29, 2017– Millennials are more burdened by student loans and student loan debt than any generation before them. Due to this current crisis, national nonprofit American Consumer Credit Counseling is providing Millennials with helpful tips to better manage their student loan debt.

”Each year the cost of college continues to rise,” said Steve Trumble, President and CEO of American Consumer Credit Counseling, which is based in Newton, MA. “This is likely one of the key reasons why student debt has become the second highest consumer debt category, surpassing credit card and auto loan debt.”

According to Forbes, the Class of 2016 graduated with an average loan debt of $37,172. Forbes also found that the current Student Loan Delinquency rate is 11.2 percent. Make Lemonade found that there are currently 44 million student loan borrowers who make up more than $1.4 trillion in student loan debt.

American Consumer Credit Counseling provides Millennials with important tips on how to manage their student loans.

  1. Understand your loans and loan agreements – It is important to understand the types of student loans you have, the variety of student loan repayment options available, and different programs offered to federal and private loan borrowers. Read your promissory note, which is a legal document.
  2. Make payments on time – Making payments on time is not only the best way to avoid loan default and eventually pay off your loan, it’s an excellent way to build credit. Building good credit also helps when it comes time to make a big purchase, such as buying a house.
  3. Create a budget – Create a post-college budget that includes all expenses, from credit card payments to utilities and groceries. By creating a budget and sticking to it, you can ensure enough savings to pay your loans on time.
  4. Keep good records and track your loans – Track all payment schedules and keep a paper record of every monthly payment. Utilize online tools and platforms to manage your loans and stay up to date.
  5. Address any financial challenges quickly – If you are having trouble making your monthly payment, don’t wait to address the problem. Research your options and talk to your lender. A borrower is usually considered in default if he or she has failed to make a loan payment for 270 days or more. Don’t let it get to that point. You may be able to switch repayment plans, consider an income-driven repayment plan, change a payment due date, or secure a deferment or forbearance.


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 management through credit counseling, debt management, bankruptcy counseling, housing counseling, student loan counseling and financial education concerning debt solutions. To help consumers reach their goal of debt relief, ACCC provides a range of free consumer personal finance resources on a variety of topics including budgeting, credit and debt management, student loan assistance, youth and money, homeownership, identity theft,  senior living, and retirement. Consumers can use ACCC’s worksheets, videos, calculators, and blog articles to make the best possible decisions regarding their financial future. 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  


American Consumer Credit Counseling (ACCC) is a non profit credit counseling agency offering services such as debt advice, debt consolidation programs, and consumer bankruptcy counseling. We have provided thousands of families with financial counseling and helped them with consolidating bills and paying off credit cards. For consumers in need of bankruptcy counseling, ACCC is approved by the Department of Justice to provide both pre bankruptcy credit counseling and post-bankruptcy debtor education.

Better Business Bureau Mass Housing Approved National Industry Standards for Homeownership Education and Counseling Council on Accreditation NFCC Member