Don't Fall For Student Loan Relief Scams!
If you are struggling to repay your student loan debt, you're not alone, and scammers are ready to pounce. In the process of your repayment, you may get an offer claiming to reduce your monthly payment, or even reduce your overall debt. This is more than likely a scam artist at play. Of course, charging for help or information that’s available for free elsewhere is not fraudulent. However, if a company doesn’t deliver what it promises, it’s scamming you.
Here are a few signs to help you identify debt relief scam:
You are required to pay a fee.
You are promised immediate and total loan forgiveness or cancellation.
They ask for your username and password.
They ask you for your third-party authorization or power of attorney.
They claim their offer is limited, and encourage immediate action.
Poor spelling and grammatical errors.
Things to keep in mind and to stay safe:
Remember, you never have to pay for help with your federal financial aid or student loans. Stay ahead of the scammers, and report any suspicious activity to the FTC at ftc.gov/complaint.er.