Student Loan Debt Relief Do’s and Don’ts

Defend By yourself FROM Scams INVOLVING College student Personal loan Credit card debt Aid

YOU ARE YOUR Greatest Safety Versus SCAMMERS

Do not pay anybody who contacts you with claims of credit card debt relief or bank loan forgiveness. YOU DO NOT Need TO Pay back Anyone TO Attain Credit card debt Relief. The software will be cost-free and straightforward to use when it opens in October.

Do not reveal your FSA ID or account information or password to any person who contacts you. The Department of Schooling and your federal college student personal loan servicer will never ever call or e mail you inquiring for this details.

Really don’t ever give individual or economical info to an unfamiliar caller. When in doubt, dangle up and phone your university student financial loan servicer straight. You can come across your federal scholar financial loan servicer’s get hold of facts at Studentaid.gov/control-financial loans/compensation/servicers.  

Do not refinance your federal pupil financial loans until you know the dangers. If you refinance federal college student loans that are suitable for credit card debt reduction into a personal mortgage, you will lose out on vital benefits like a person-time credit card debt reduction and versatile repayment programs for federal financial loans.

DO indication up at www.ed.gov/subscriptions to be notified when the Student Bank loan Financial debt Relief application will become obtainable.

DO produce an FSA ID at StudentAid.gov. You will not have to have it for the financial debt relief software but acquiring an FSA ID can make it possible for you to quickly obtain correct facts on your personal loan and make sure FSA can get in touch with you immediately, encouraging you equip oneself versus scammers making an attempt to contact you. Log in to your existing account on StudentAid.gov and retain your get hold of facts up to date. If you have to have enable logging in comply with these strategies on accessing your account.

DO make sure your mortgage servicer has your most latest speak to information and facts. If you really don’t know who your servicer is, you can log into StudentAid.gov and see your servicer(s) in your account.

DO report scammers to the Federal Trade Commission by checking out reportfraud.ftc.gov.