Student debt relief scams are becoming more common as borrowers prepare for repayment to resume.
Here’s some advice from the Department of Education on how to protect yourself.
- pay anyone who contacts you with promises of debt relief or loan forgiveness – the Federal application is free
- reveal your FSA ID or account information or password to anyone who calls you
- give personal or financial information to an unfamiliar caller
- refinance your Federal loans into private loans without understanding the risks, including losing eligibility for Federal relief
- create an FSA ID at StudentAid.gov
- update your contact information with your servicer
- report scammers to the Federal Trade Commission
The application for debt relief hasn’t been made available but should go live any day.
Continue to use IonTuition and keep on the look out for more updates. Contact an IonTuition loan counselor if you have any questions.