2 Welcome to Campus Debt Solutions Letter from the President On behalf of our entire team here at Campus Debt Solutions, we would like to welcome you to our services. Campus Debt Solutions has assisted thousands of clients in taking advantage of these valuable government programs. You have taken an important step in your life to secure the financial relief these programs offer you and your family. Each program is tailored to your individual financial situation. Our counseling team has years of experience in educating and assisting clients like you through this process. We are providing you this New Client Orientation Manual to ensure you fully understand the loan consolidation programs and the role Campus Debt Solutions and you the client play in this process. Campus Debt Solutions is not affiliated with any government organization. We are here to assist you in identifying which programs you may qualify for, and helping you prepare all the necessary paperwork required by the Department of Education. We offer a 100% money back guarantee if for some reason your process is not completed. Rest assured, with our experience and knowledge you will be placed in the best possible program. All of your paperwork and electronic submissions will be prepared properly, professionally, and quickly allowing you to take advantage of the program for which you qualify as soon as possible. Our counselors are here to answer any questions you may have. Do not hesitate to call if you should have any questions or concerns whatsoever. We are here to help!! Sincerely, Cindy Chalovich President CChalovich@campusdebt.com Compl Compliance and Client Rights Department At Campus Debt Solutions we strive to ensure you are 100% satisfied with the services we offer. Our number one goal is to handle your case as quickly, professionally, and smoothly as we possibly can. It is your right as a client to accept nothing less in how we handle your case. Your rights as a client of Campus Debt Solutions are: That you fully understand the loan consolidation programs that you are applying for and the process by which we help identify the best program suited to your individual financial situation and assist in selecting that program. That you fully understand the role Campus Debt Solutions plays in preparing the necessary documents and electronic submissions that allow you to apply for and receive the benefits of these valuable government programs. That you fully understand the role you, the client, plays in the process of preparing your documents and electronic form submissions. That you are updated periodically of the status of your case through email and phone communications. That all of your questions and concerns throughout the entire process of preparing and submitting the documents on your behalf are answered or resolved to your satisfaction. That you are treated with dignity and respect in all dealings with Campus Debt Solutions. That you are extended a 100% money back guarantee if we do not meet our commitments. Campus Debt Solutions has established a Compliance and Client Rights Department available to you at any time. If for any reason, you are not satisfied with any aspect of our services or feel we violated any of the rights we extend to you above, please call our compliance officer at (954) 377-9402 or email compliance@campusdebt.com. We commit to resolve any concern you may have. 3
Student Loan Consolidation Programs Break free of high debt payments with the best program for your needs. Struggling to stay ahead of high student loan payments? Tired of watching your paychecks get bled dry every month to pay for your education? Then it s time to consolidate. Campus Debt assists you in finding the best program for your needs. We ve waded through all the government websites and conflicting information you ll find online to provide a simple explanation of the five programs you can use. On the following pages is an explanation of each of the programs available. Understanding the Government Programs Available Graduated Repayment Program (GRAD) The amount you pay each month is fixed, but it increases incrementally. You are granted short term financial relief by paying a low payment now. Your payment will increase every two years until the principal and interest are paid off. Income-Based Repayment Program (IBR) This bases your payments on the amount of income you re earning, so it makes sure your payments are affordable at your current salary - in some cases, your payment might be $0. Income-Contingent Repayment Program (ICR) This plan is similar to the IBR, except it uses a higher percentage of your income to calculate your monthly payments allowing you to pay off the debt faster with less interest added. Pay as You Earn Program (PAYE) If you ve recently graduated and have the right type of loans that were taken out recently (after 2007), then you can use this program that takes the lowest portion of each paycheck possible. 4 Standard Repayment Program This is the most basic kind of consolidation you can do. Your loans are all rolled into one bill and you make a fixed monhtly payment every month until the principal and interest are paid off. Federal Student Loan Debt totals $1.2 Trillion Dollars now exceeding credit card debt ($882 Million). 71% of all college graduates leave school with student loan debt. How much debt? An average of $23,450. You promise you will: Provide accurate information Respond to our request for additional information in a timely fashion Call us if you receive any communications from your previous lenders Call us if you have any questions or concerns Our Mutual Commitments We promise we will: Answer all calls or emails in a timely fashion Keep you informed throughout the process Complete our process as quickly as possible Provide a guaranteed service and completion of your file Handle all concerns personally by our Consumer Advocate to your satisfaction 5
Hours of Operation Monday - Thursday 9:00am - 8:00pm (EST) Friday 9:00am - 5:30pm (EST) Saturday 9:00am - 3:00pm (EST) There is no limit to the amount of referrals you can submit. We encourage you to send as many people as possible who can benefit from this program and you will be rewarded for it! * Certain rules apply. National Student Loan Protection Program (NSLPP) Company Contact Information Enrollment Counselors - Toll Free 888-418-2031 Client Services - Toll Free 888-758-0720 Client Service Email - support@campusdebt.com Consumer Advocate - 954-377-9402 DID YOU KNOW? We offer a fantastic referral program where you can earn $25 for each person who successfully enrolls in the program.* This is a great way to help your family and friends receive student loan relief too! HOW DO I SEND REFERRALS? Simply email your referral s name and the best telephone number to reach them at to support@campusdebt.com As part of your enrollment in our services, you can participate in the NSLPP. For those of you who have elected to be part of this program, you have made a wise choice in enjoying benefits of the program. Below is the outline of this comprehensive program designed to maintain your benefits, protect your ability to pay your loans, and educate you on financial budgeting and responsibility. Through the NSLPP, you will have access to all of these valuable benefits: Student Loan Assurance Program Guaranteed to consolidate your loans or you ll receive a 100% refund. Annual review of the client s life situation to ensure they are in the right loan program to maintain their benefits. Concierge level customer service to answer any questions. Free consultation at any point when the client s life situation changes. Involuntary Unemployment Insurance (IUI) In uncertain times, give yourself added peace of mind. If you become involuntarily unemployed, IUI will pay you $500 per month for up to four months. Certain terms and conditions apply. 6 7
8 KOFE Financial Education Visit this user-friendly site to gain access to budgeting tools and the financial guidance that is needed to live a financially secure lifestyle. We hope to educate, motivate and empower you while giving you the tools to refrain from overspending and encourage you to save and invest. To access the site, please visit the site provided on your enrollment documents. imoney Quest A comprehensive interactive, web-based personal financial course designed to teach consumers money management and budgeting concepts to maintain healthy finances. To access the site, please visit www.imoneyquest.com and enter the Agency Code provided in your enrollment documents. To access the other remaining benefits, please visit www.mymembersmarketplace.com/platinum. Click Access Now to set up your user profile and enter the password provided in your enrollment documents. If you are not enrolled, call us today to get started! Frequently Asked Questions Your success in identifying and properly submitting your documentation depends on your commitment and participation in your student loan consolidation process. You need to contact our office any time you receive information from your lender. In addition, it is important to communicate with us to ensure your documents are prepared accurately. What service does Campus Debt provide? Campus Debt provides consultation and documentation preparation services that help clients select the best possible program they are eligible for through the Department of Education. CDS prepares the necessary paperwork and submissions on your behalf. Is Campus Debt a government organization? No. Campus Debt Solutions is a private company, not affiliated with any government organization. Our sole purpose is to assist clients to identify the valuable programs available to them and assist in the document preparation required to qualify for such programs. What forms of payment are accepted? We accept payments by credit card or debit card (MasterCard, Visa, or AMEX). Should you need to change your payment method, please contact us at least five days before your scheduled payment. How long will the process take? Campus Debt Solutions prepares your paperwork as soon as you are enrolled in the program. The process normally takes anywhere from 8 to 12 weeks for the loan consolidation to be put in place. What happens if I miss a payment? If for some reason you miss a scheduled payment, you should contact Client Services immediately to avoid interruption in the service. Can I cancel my services? Campus Debt Solutions offers a 100% money back guarantee if for any reason the consolidation process is not completed. How do I obtain an update on my loan consolidation process? You can call our Client Services department during normal business hours to obtain an update on the service. What should I do if I receive communications from my loan provider(s)? If you should receive any phone calls or correspondence from your previous loan servicer, please contact Client Services immediately. Our experienced customer service specialists will go through an extensive process to see what is taking place with your account and assist you with resolving any issue. We will provide you with direction as to how to respond or handle the contact. Do I have to continue to pay my current loan providers? You should continue to make payments on your old loans until your consolidation is complete. In some cases, your old loans may be placed in forbearance if you still have the allotted time. This would 9
allow you to not make payments. If you have any questions regarding this, please contact our Client Service Department. Can I do this myself? Although you can complete this process on your own, you have elected to let a professional organization assist you just as an individual would use a tax accountant to prepare taxes to ensure it is done professionally and correctly. Do I have to renew my benefits annually? Each year the DOE requires all participants of these programs to re-file income documents. Depending on your income situation, your payments may change. CDS offers a free consultation annually to all clients. Take advantage of our experts, we are always here to help. What if I receive a notification from my servicer that shows a higher amount? In many cases the servicer will place a client in a standard program first upon completion of the consolidation. Don t be alarmed, the servicer is still processing the repayment plan so that you receive the correct monthly payment per your income and household size. This could take up to two weeks after the completion of your consolidation. Budgeting 101 Developing a solid and realistic budget won t require reinventing yourself financially or finding a better job, however, you do need to be a responsible borrower and spender. Budgeting tells you what you have to spend for every material thing in your life. With a little data collection and some simple calculations, you will probably find some easily adjustable surprises that could get redirected to more important financial priorities, like paying down debt and saving for emergencies. You may be surprised by how the expenses that seem insignificant can really make an impact. Paying for your car insurance in six month increments, for instance, often results in saving money. By making small changes, you may be able to free up funds that afford you the ability to make smart, money saving decisions. What if my situation changes and I cannot afford my loan payments? We both have made a strong commitment to financial relief from your student loans, simply call our Client Service department and allow our experts to assist you. We will continue to help throughout the life time of the loan. 10 11
Income Worksheet Use this form to track your income. List all sources of income including: cash gifts, bonuses, tax refunds, cost-of-living increases, etc. All earnings you list should be net amounts (after tax). Income Source Weekly/Bi-Weekly Income Monthly Income Your Wages $ $ Spouse s Wages $ $ Part-Time Wages $ $ Child Support $ $ Alimony $ $ Social Security Benefits $ $ Veteran s Benefits $ $ Other $ $ Total Income $ $ Fixed Expenses Use this form to track your fixed expenses. These expenses remain the same each month and include student loan payments and car payments. Flexible Expenses Flexible expenses are those that allow you to control the amount of money spent. These include household and grocery items, restaurant expenses, utilities, out-of-pocket expenses, etc. Monthly Expenses Current Payment Adjusted to Balance Income Telephone Bill $ $ Electric/Gas $ $ Oil/Fuel Bill $ $ Cable Television Bill $ $ Groceries $ $ Household Supplies $ $ School Supplies $ $ Clothes $ $ Dry Cleaning $ $ Laundry $ $ Savings (5% is your goal) $ $ Other $ $ Total Flexible Expenses $ $ Monthly Expenses Current Payments Mortgage/Rent $ Real Estate Taxes $ Homeowners Insurance $ Car Loans/Lease Payments $ Car Insurance $ Student Loans $ Alimony/Child Support $ Medical Insurance $ Credit Correction Payment $ Other $ Total Fixed Expenses $ 12 13
Discretionary Expenses Discretionary expenses are items that are not necessary for survival. If your expense to income ratio is out of balance, items from this category should be eliminated or cut back. Monthly Expenses Current Payment Adjusted to Balance Income Recreation $ $ Movies/Plays $ $ Dining Out $ $ Sporting Events $ $ Magazines/Newspapers $ $ Barber/Beauty Salon $ $ Hobbies $ $ Fund Raisers/Dues $ $ Other $ $ Other $ $ Other $ $ Total Discretionary Expenses S S Budgeting Made Easy A Step-by-Step Implementation of a Spending Plan STEP 1 List all sources of monthly income including gifts, bonuses, tax refunds, cost-of-living increases, allowances, etc. To keep track of your income, use the Income Worksheet. STEP 2 Expenses are separated into three categories: fixed, flexible, and discretionary. To keep track of your expenses use the Expense Worksheets. Fixed Expenses remain the same each month. These include rent, student loan payments etc. Total all fixed expenses. Flexible expenses are those in which you control the amount of money you spend. These include household and grocery items, restaurant expenses, utilities, entertainment, out-ofpocket expenses, etc. Total all flexible expenses. Discretionary expenses are items that are not necessary for survival. If your expense to income ratio is out of balance and you are spending more money than you earn, items from this category should be eliminated or cut back. Total all discretionary expenses. STEP 3 Total all of your expenses from each sheet (fixed, flexible, and discretionary). The next step is to subtract that figure from your total monthly income. This figure will tell you where you are - in the RED or in the BLACK. If the expense total is greater than the income total, you are off track financially. If you are in the black, that s great! Now you just have to figure out how you should use the extra money. It should be for savings or allocated to an emergency fund. If you are in the red, you must adjust your income or reduce your expenses. The goal is to bring your finances into balance so you can get out of debt. Adjust your flexible and discretionary expenses as best as possible and write the new amount you want to spend in the right column of the expense sheets. STEP 4 Next, you have to allocate what expenses will be paid from which pay period. On a calendar write down the dates you will be receiving income. Using a different color ink, write in the dates of when your individual bills are due. This will help you figure out what bills and/or expenses you must pay from which pay period and will give you a clear idea of how much money you must set aside from each paycheck/allowance. STEP 5 Once you adjust your expenses to your income, find ways to dedicate a certain amount of any surplus money to pay off your most costly debts. When your credit cards and loans are paid off, your priority should be to allocate 5% of your monthly income to a savings account. The goal is to build enough savings to create a reserve account. This method will save you from living paycheck to paycheck and help you deal with the surprises of life. Review your spending plan each income period. At the end of each, compare actual expenses against what you budgeted. Don t be afraid to change your budget and re-work the numbers. It must evolve as your life does. If you find a particular thing is not working - change it! As time passes, and you fine-tune your budget, you may want to only perform this comparison on a quarterly basis. 14 15
16 Privacy Policy Educational Financial Solutions LLC, doing business as Campus Debt Solutions is dedicated to protecting your privacy and providing you with the highest level of service. This Policy explains what CDS does to keep information about you private and secure. This Policy covers only information that you provide to CDS or that it obtains about you from companies that you have chosen to do business with. Please read this Policy carefully and contact us if you have any questions. Personal Information We Collect. The personal information we collect about you comes from the following sources: Information we receive from you, such as your name, address, and telephone number, or other information that you provide to us over the phone or in documents or applications. Information about your transactions, such as your account balances with your creditors, payment histories, account activity, and all other information that may be contained in your credit card statements or other reports relating to your debt. Information we receive from consumer reporting agencies and other sources, such as your credit bureau reports, collection agency reports or other communications, and other information relating to your payment histories, creditworthiness, annual income, or ability to satisfy your obligations. We reserve the right to, and will, sell or transfer your personal information to third parties for any purpose in our sole discretion. We prohibit the sale or transfer of personal information to non-affiliated entities for their use without giving you the opportunity to opt-out. We may disclose such information in order to effect or carry out any transaction that you have requested of us or as necessary to complete our contractual obligations with you. We may also share your information with service providers that perform business operations for us, companies that act on our behalf to market our services, or others only as permitted or required by law, such as to protect against fraud or in response to a subpoena. We may also share or transfer our information in the event we transfer or sell your account or our business assets to another provider. By carrying out those services, we may disclose your information, as we see fit and as permitted by law, to your creditors, credit card companies, collection agencies, banks, and other entities and individuals specifically necessary to effect, administer and perform our services. Your Choices/Opt-out We provide you the opportunity to opt-out of having your personally identifiable information used for certain purposes. By providing information to CDS you are consenting to the collection, use and disclosure of such personal information in the manner described in this privacy policy. We provide you the opportunity to withdraw your consent when such information is collected. Such consent may be withdrawn by calling the telephone number provided below or may be done in writing/ email and sent to our customer service department at the following physical address or email address: Campus Debt Solutions 6360 NW 5th Way, Ste. 103 Ft. Lauderdale, FL 33309 Email: support@campusdebt.com Phone: (888) 758-0720 How We Protect Your Information We train our employees to protect all customer information. We maintain physical, electronic and procedural controls that comply with government standards. We authorize our employees, agents and contractors to get information about you only when they need it to do their work with us. You can help to maintain the security of your online transactions by not sharing your personal information or password with anyone. Remember, no method of transmission over the Internet, or method of electronic storage, is 100% secure. This Policy applies to current and former customers. If you have any questions, please contact Campus Debt Solutions at 6360 NW 5th Way, Ste. 103, Ft. Lauderdale, FL 33309. NOTES 17
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