Don’t Fall for Student Loan Scams

Don’t Fall for Student Loan Scams

The prince of Nigeria isn’t trying to send you money, you don’t need to send money to your “trapped friend” in the carribean, you don’t need a new car warranty, and you don’t need to pay someone to obtain student loan relief or forgiveness. Yes, honest help can be difficult to find, and there is still a lot of gray area around the future of student loans, but be weary of unsolicited calls stating that they can “have the balance of your loans wiped out,” or have “your future payments halted.”

These companies care about getting as many people as they can to pay for their service. They don’t actually care about your own personal financial and student loan goals. If you’ve already graduated, and you’re feeling overwhelmed about your student loans, my advice is to exhaust all of free options and gather as much information as you can before paying someone to provide you with a service you can do yourself for free.

Some of the resources I would reach out to first:

Your student loan servicer

Free online websites like:
Your accountant or tax professional
A personal financial advisor

The best thing you can do is seek information from reliable sources, and use that knowledge to set a plan and take charge of your student loans. Once you’re able to do that, you will gain confidence and shed the fear and uncertainty that student loan scams prey on.