You Don’t Have to Pay for Help with Your Student Loans!
If you receive a call
or text from a student loan company promising you to lower your college debt.
It sounds too good to be true?
It probably is. Block these scammers!
It probably is. Block these scammers!
Their main goal is to get your personal information,
while asking a fee for their services.
The U.S. Department of Education (ED) does offer some
legitimate student loan forgiveness
programs and ways
to lower your student loan
payments, they are all free to apply for through your
official loan servicer. Don’t pay for help when you can get help for
free! [1]
Below are some signs to identity student loan scams: [2]
1. You have to Pay an Upfront Cost or Monthly
Fees
A student loan debt
relief company asks you for some form of payment in order to help you with your
student loans. However, there’s nothing they are charging you for that you
can’t do on your own (or with the help of your loan servicer). If you’re having
a hard time making your monthly payments, your loan servicer will work with you
to switch to a more affordable repayment plan at any time for free!
Your loan servicer is
a company that works on behalf of U.S. Dept. of ED.
- Collect your
loan payments.
- Answer any
questions you have about your loans.
- Help you
decide which repayment plan best suits you.
- Help you
switch to a new plan at no cost!
- Manage other tasks related to your loans.
2. You’re Promised Immediate Loan Forgiveness
No one can promise or
guarantee you immediate and total loan forgiveness or cancellation. A scam company
may claim to get rid of your loans quickly, but most government forgiveness
programs require many years of qualifying payments and/or employment in certain
fields before your loans can be forgiven.
3. You Have to Provide Your FSA ID Password
ED or your loan
servicer will never ask you for your FSA ID password. Your FSA ID
is used to sign legally binding documents electronically. It has the same legal
status as a written signature.
Do not give
your FSA ID password to anyone.
No comments:
Post a Comment