“U.S. Secretary of Education, Arne Duncan: STOP spending a BILLION dollars on student loan collection agencies and START helping student loan borrowers avoid default.”

Debt

The Department of Education is paying $1 billion dollars a year to collection agencies to collect on defaulted student loans when the reality is that almost no one should default if adequate default prevention and aversion counseling strategies were put into effect and adequately funded.

We need your support to protect student loan borrowers from collection agencies, student loan servicers and even schools that have a vested interest conflicting with the “best interest” of the students.

We are asking the U.S. Secretary of Education, Arne Duncan to allocate just $200 million of the $1 billion currently going to collection agencies, to fund a successful default aversion and prevention process both at schools and through independent non-conflicted organizations.

Independent organizations have successfully assisted student loan borrowers in preventing their loans from default by providing students with highly experienced counselors to guide them through the loan repayment process.

Unfortunately, college debt isn’t just taking a financial toll on millions of borrowers. It’s also inflicting staggering costs on the health, careers, emotional well-being and personal relationships of those burdened with big college loans.

We just created this petition: U.S. Secretary of Education, Arne Duncan: STOP spending a BILLION dollars on Student Loan collection agencies , because we care deeply about this very important issue.

I’m trying to collect 100 signatures, and we could really use your help.

To read more about what we’re trying to do and to sign this petition, click here!

It’ll just take a minute!

Once you’re done, please ask your friends to sign the petition as well. Grassroots movements succeed because people like you are willing to spread the word!

Thank You.

Posted in Uncategorized | No Comments »

Money Management Tips for College Students

  1. Track your money.  Once you realize how much impulse buying and other indulgences cost you, it will be easier to tell yourself “NO!”

    2.  

  2. Be frugal.  Going to the movies, riding the bus, or even ordering pizza might cost less if you show your student I.D. Check travel fares for student discounts on bus and other commercial transit services as well as student discounts when you need to travel by air.

    3.  

  3. Stay financially secure by using caution.
    • Don’t give anyone your Social Security, credit card, or bank account numbers unless you know why they need them.
    • Never give a pin number to anyone!
    • Review credit card statements, bank statements, phone bills, etc. for unauthorized use.
    • Avoid scholarship scams.  Real scholarships never charge fees and application information is available and free to everyone.

     

  4. Keep only one or two major credit cards and use it sparingly.  Set your own credit line and don’t charge more than you can comfortably repay.  Just because you have a $2,000 credit line doesn’t mean you have to spend $2,000.

    5.  

  5. Make a personal budget based on your savings and income. Round up your available cash including gift money (if you’re a recent high school grad), scholarship money, student loans, summer job savings, and money from your parents. You may want to designate types of money for certain uses.
    • For instance:  Think of student loans as an investment in your education and your future.  Use student loan funds only to pay school expenses like tuition and books.
    • Use money from home for things like groceries and phone bills.
    • Give yourself an allowance.  Track your spending to find where your money goes and then choose between your wants and real needs.

    Budget for a month at a time but set aside some time to review your finances each week.

    6.  

  6. A budget is like a money diet.  Just because you bust it today, doesn’t mean you can’t start it again tomorrow.  If you go over budget this week, next week commit to staying under budget.

    7.  

  7. Build an emergency fund.  Save change in a piggy bank or jar.  Deposit $X.XX a week from paychecks in a savings account when you cash your check.

    8.  

  8. Get a money calendar.  Any calendar with big windows with room to write in amounts will do.  Use the calendar windows to note:
    • Due Dates for scholarship and grant applications.  Keep applying for financial aid all the way through college. Missing an application deadline is the most common mistake students make when applying for scholarships.
    • Upcoming school expenses (books and tuition).
    • Bill payment dates.
    • Upcoming activities where you’ll need cash. (Movies, dances, parties, etc.

    9.  

  9. Make bill paying easier by filing your bills by due date.

    10.  

  10. Buy books when you need them.  Compare online prices with those at campus bookstores.  Buy used books when you can.  Check bulletin boards and school newspapers as well as used bookstores and online used booksellers.

    11.  

  11. Put your roommate in your financial planning.  If you can, contact your roommate before the semester starts and decide how you’ll divide expenses.

    12.  

  12. Talk to your parents about who pays for what.  Find out what you can count on from them and what you will be responsible for.

    13.  

  13. Ask for help when you need it.  If you run into a financial disaster, call home and let your parents know you’re in trouble.  If an unexpected event changes your home financial situation, don’t give up on school!  First, talk with your financial aid office.  Most colleges set aside funds to help students get through difficult situations.
Posted in Uncategorized | No Comments »

Happy 25th R&B Solutions!

On September 15, 1986, Attorneys Robinson and Brebner established a law firm that would eventually expand to become R&B Solutions, a company driven to help secondary students prevent defaulting on their student loans. R&B used their years of experience in the student loan industry to best educate both higher education institutions and their students on how to best prepare for the financial cost and responsibility of pursuing their careers and degrees, before, during, and after their first dorm room well across the graduation stage and into their first home.

Happy birthday, R&B. All the best for the next 25 years to come!

What has R&B done for you in the past 25 years?

Please take this time to post some of your thoughts and salutations for R&B’s Silver Anniversary/Birthday!

Posted in Uncategorized | 1 Comment »

Welcome to the R&B Solutions Financial Literacy Counseling Blog

Welcome to the R&B Solutions Financial Literacy Counseling Blog!

R&B Solutions provides outreach resources, materials, and training specifically tailored to the student loan population most likely in need of financial education services.

R&B offers college planning and preparation sessions on topics that students, parents, and caregivers can use to enhance their knowledge on budgeting, credit, student loan borrowing and other related topics.

Our goal in this blog is to continually provide the most up-to-date training materials and resources to empower individuals and enhance their awareness, knowledge and skills pertaining to financial literacy and debt management issues.

We look forward to helping each and every one of our readers transform their lives with financial security as a solid foundation.

Welcome to the R&B Solutions Financial Literacy Counseling Blog!

 

Posted in Uncategorized | No Comments »
All Contents © Copyright R&B Solutions 2010.
All Rights Reserved.