Memphis is Tennessee's second-largest city and a major healthcare and logistics hub. The University of Memphis, UT Health Science Center, Rhodes College, and Southwest Tennessee Community College produce thousands of borrowers. The economy is anchored by healthcare (Methodist Le Bonheur, St. Jude Children's Research Hospital, Baptist Memorial, Regional One Health), FedEx (world headquarters), International Paper, and AutoZone. Tennessee has no state income tax, which benefits borrowers on IDR plans. Shelby County Schools, the City of Memphis, and Shelby County government provide significant PSLF-eligible employment.
We spent over 100 hours evaluating student loan relief services for Memphis borrowers. MOHELA emerged as our #1 pick as the official federal servicer providing free access to all programs.
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The best Student Loan Relief company in Memphis for 2026 is MOHELA, rated 4.6 with fees of Free (federal servicer) and a resolution timeline of Varies by program. Other top-rated options include Student Loan Planner (rated 4.8) and Ameritech Financial (rated 4.5).
- Top Pick
- MOHELA
- Rating
- 4.6
- Avg. Fees
- Free (federal servicer)
Last updated
Key Takeaways: Business Debt Settlement in Memphis
- 1 MOHELA is our #1 pick for Memphis student loan relief — all federal programs are completely free.
- 2 St. Jude Children's Research Hospital, Methodist Le Bonheur, and Baptist Memorial all qualify for PSLF.
- 3 Tennessee has no state income tax, giving Memphis borrowers more take-home pay.
- 4 FedEx headquarters offers competitive private-sector salaries for aggressive repayment strategies.
- 5 UT Health Science Center trains physicians who can pursue PSLF at Memphis's nonprofit hospitals.
Economic Snapshot
Source: Federal Reserve Economic Data (FRED). Indicators refresh daily.
I'm a postdoctoral researcher at St. Jude Children's Research Hospital with $110k in loans. St. Jude is 501(c)(3). SAVE payment is $225/month. The mission is incredible and PSLF makes the financial side work. St. Jude employees, you qualify.
The debt settlement industry resolves more than $10 billion in consumer debt annually.
Source: AFCC Annual ReportStudent Loan Relief in Memphis: The Complete 2026 Guide
Memphis's concentration of nonprofit hospitals, world-renowned St. Jude, and no state income tax create a student loan landscape with strong PSLF opportunities.
Memphis's Student Loan Landscape
UT Health Science Center trains physicians, pharmacists, and nurses with significant debt. The University of Memphis serves the broader borrower population. St. Jude employs thousands at one of the most prestigious pediatric research hospitals in the world. FedEx, International Paper, and AutoZone offer competitive corporate salaries.
Federal Programs for Memphis Borrowers
Memphis borrowers have access to all federal programs at no cost. IDR plans include SAVE, PAYE, IBR, and ICR. PSLF provides tax-free forgiveness after 120 payments. Tennessee has no state income tax. The Tennessee AG handles consumer complaints.
St. Jude and PSLF
Alternatives to Paid Services
- StudentAid.gov: Free IDR, PSLF, consolidation, and tracking.
- UofM Financial Aid: University of Memphis offers alumni counseling on repayment.
- Memphis Area Legal Services: Free legal help for borrowers in default.
- Refinancing: FedEx and corporate workers with high salaries may benefit. Never refinance if PSLF applies.
Avoiding Scams in Memphis
The Tennessee AG has pursued student loan scams. Never pay for free federal services. Report to the TN AG, FTC, and CFPB.
1
Rank 1: MOHELA
4.6
Visit MOHELA
Rank 1: MOHELA
- Min. Debt
- No minimum
- Avg. Fees
- Free (federal servicer)
- Timeline
- Varies by program
MOHELA is our #1 ranked resource for Memphis borrowers in 2026. St. Jude Children's Research Hospital (501(c)(3)), Methodist Le Bonheur Healthcare (501(c)(3)), Baptist Memorial Health Care (501(c)(3)), Regional One Health (public), Shelby County Schools, City of Memphis, Shelby County, and UT Health Science Center (public) all qualify for PSLF. MOHELA handles everything at zero cost.
2
Rank 2: Student Loan Planner
4.8
Book a Consultation
Rank 2: Student Loan Planner
- Min. Debt
- $50,000
- Avg. Fees
- $499-$699 per consultation
- Timeline
- Ongoing advisory
Student Loan Planner earns our #2 spot with expert advisory for UT Health Science Center medical graduates and professionals navigating complex PSLF and refinancing decisions. Their $499-$699 consultations optimize repayment.
3
Rank 3: Ameritech Financial
4.5
Get a Free Consultation
Rank 3: Ameritech Financial
- Min. Debt
- $10,000
- Avg. Fees
- $49-$99/month
- Timeline
- 10-25 years (IDR plans)
Ameritech Financial rounds out our top 3 with hands-on document management for $49-$99/month. Free through MOHELA but convenient for busy Memphis professionals.
Memphis Business Debt Settlement Compared
- Min. Debt
- No minimum
- Avg. Fees
- Free (federal servicer)
- Timeline
- Varies by program
- Min. Debt
- $50,000
- Avg. Fees
- $499-$699 per consultation
- Timeline
- Ongoing advisory
- Min. Debt
- $10,000
- Avg. Fees
- $49-$99/month
- Timeline
- 10-25 years (IDR plans)
CFPB Complaint Tracker
Source: CFPB Consumer Complaint Database. All financial complaints filed from TN in the past 12 months.
Our editorial team spent over 100 hours evaluating student loan relief services for Memphis borrowers.
Our Methodology
Program Effectiveness
Fee Transparency
Client Reviews
Student Loan Expertise
Evaluation Weight Distribution
Tennessee Attorney General
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Frequently Asked Questions
Important Student Loan Relief Disclaimers
- Most federal student loan repayment plans, forgiveness programs, and consolidation options are available for FREE directly through your federal loan servicer and at StudentAid.gov. You never need to pay a third-party company to enroll in an income-driven repayment plan or apply for Public Service Loan Forgiveness.
- No company can guarantee student loan forgiveness. Forgiveness eligibility depends on meeting specific program requirements including qualifying employment, payment counts, loan types, and repayment plan enrollment. Program rules can change through legislation or regulation.
- Income-driven repayment (IDR) plans can significantly reduce monthly payments but may increase the total amount paid over the life of the loan due to extended repayment periods and interest capitalization. After 20-25 years on IDR, remaining balances may be forgiven but the forgiven amount could be treated as taxable income (though a temporary tax exemption applies through 2025).
- Private student loans are NOT eligible for federal repayment plans, income-driven repayment, Public Service Loan Forgiveness, or other federal forgiveness programs. Relief options for private loans are limited to refinancing, negotiation with the lender, or in some cases, settlement or bankruptcy.
- Student loan refinancing replaces federal loans with a private loan, which permanently eliminates access to federal protections including IDR plans, PSLF, deferment, forbearance, and any future federal forgiveness programs. Refinancing should be carefully evaluated.
- Student loan relief companies that charge upfront fees before providing services, guarantee specific outcomes, or pressure you to act immediately are red flags. The FTC and CFPB have taken enforcement action against numerous student loan relief scams.
- Zogby does not provide student loan services. We are an independent comparison service that connects borrowers with student loan relief resources. We may receive compensation from featured services, which may influence rankings and placement.
The information provided on this page is for general informational and educational purposes only. It is not intended as financial or legal advice. You should consult with a qualified financial advisor or student loan specialist before making decisions about your student loan repayment strategy.
Editorial Independence
We make money from some companies on this page. That doesn't change our rankings -- the editorial team scores every product independently, and the business side has no say in what we recommend.