February 1, 2023

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The Education Specialists

Student Loan Debt Relief Do’s and Don’ts

student loan debt relief do's and don'ts

Defend On your own FROM Cons INVOLVING Pupil Financial loan Financial debt Aid

YOU ARE YOUR Best Defense In opposition to SCAMMERS

Never pay out anybody who contacts you with guarantees of financial debt reduction or personal loan forgiveness. YOU DO NOT Will need TO Fork out Any individual TO Get Personal debt Reduction. The application will be totally free and quick to use when it opens in October.

Never expose your FSA ID or account information or password to anyone who contacts you. The Office of Education and learning and your federal pupil mortgage servicer will never ever simply call or email you inquiring for this info.

Don’t at any time give own or economic details to an unfamiliar caller. When in doubt, cling up and phone your scholar financial loan servicer directly. You can obtain your federal college student bank loan servicer’s speak to information at Studentaid.gov/regulate-financial loans/reimbursement/servicers.  

Do not refinance your federal pupil loans except you know the dangers. If you refinance federal student loans that are qualified for financial debt relief into a non-public personal loan, you will eliminate out on important rewards like one particular-time personal debt aid and versatile reimbursement designs for federal loans.

DO indicator up at www.ed.gov/subscriptions to be notified when the Pupil Bank loan Personal debt Relief application gets available.

DO make an FSA ID at StudentAid.gov. You will not require it for the debt reduction application but possessing an FSA ID can allow you to easily access precise info on your personal loan and make absolutely sure FSA can get in touch with you straight, supporting you equip oneself from scammers striving to get hold of you. Log in to your present-day account on StudentAid.gov and maintain your get in touch with data up to date. If you need assistance logging in observe these tips on accessing your account.

DO make confident your financial loan servicer has your most recent make contact with info. If you do not 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 Fee by checking out reportfraud.ftc.gov.