How to Avoid Student Loan Forgiveness Scams?

Student loans How to get it?
Finally, while there are no shortcuts to student loan forgiveness, programs set up by the federal government can help you pay off your loans,

By Manuel Tovar, November 03 – Hispanic Solutions Group

Hispanic Solutions Group, identified with consumers and users, guiding and informing them in an appropriate and timely manner so that they can make favorable decisions in their financial and other activities, as in the present case, on the subject of Student Loans, informs them that. In the past few months, some borrowers may have received a call or voicemail telling them that they qualify for student loan forgiveness, they need to be very careful. As the conversation about student loan forgiveness continues, bolstered by the Biden administration’s actions in reviewing programs such as public service loan forgiveness and borrower defense for repayment, many new targeted scams have appeared. to student loan borrowers.

How do you spot a student loan forgiveness scam?

Student loan forgiveness scams are built on one thing: desperation. These scams come in many forms, but some of the most common include promising immediate loan forgiveness and offering help applying for forgiveness for a small fee. However, most federal student loan forgiveness programs require years of qualified payments and / or employment in certain fields before you are eligible, and you can apply for free through your loan servicer. Additionally, you may qualify to have your student loans canceled if you are permanently disabled, your school has been closed, or if you are experiencing other qualifying circumstances. But again,

Here are some ways to tell if a student loan forgiveness offer is a scam:

  • The company is committed to helping you enroll in a certain assistance program and charges a fee for the service.
  • You are required to pay in advance before any work is done or promised services are provided.
  • The company asks for your social security number or other confidential personal information. Do not provide this information, even if someone calls you saying it is from your student loan servicer.
  • The company guarantees loan forgiveness in a short period of time. This is simply not possible unless you have circumstances that qualify for immediate discharge. Contact your loan servicer for more details.
  • The person or company asks for your identification or password Federal Student Aid (FSA). Your ID can be used to sign documents electronically and your loan servicer will never ask for it.
  • The company promises the forgiveness of private student loans.

What Should You Do If You Have Been Scammed?

If you have already given money to a company that offers false promises about student loan forgiveness, contact the attorney general’s office and report it. You can also file a complaint with the Federal Trade Commission. It’s especially important to report scams that target more than one person or those that use fake names or official-looking websites. It’s also good to spread the word about these scams by sharing this information with your friends and family on social media.

What you should know.- Scammers may try to take advantage of you by charging for services that are free, encouraging you to sign up for paid programs you don’t need, or stealing your personal information. Don’t be afraid to ask for the company name and a callback number, then do an internet search for the information to determine if the company is legitimate or not.

Finally, while there are no shortcuts to student loan forgiveness, programs set up by the federal government can help you pay off your loans if you meet certain requirements. But it’s important to remember that you don’t have to pay money to apply for loan forgiveness programs and income-based repayment plans, and you definitely don’t have to go through a third party to go through the process. Contact your loan servicer if you are interested in learning more about these options.

If you have any questions related to finances, credits and other related topics, but do not know who to turn to, contact us by going to Hispanic Solutions Group, writing to info@hispanicsolutionsgroup.com, by calling 612-216-1599 or accessing financial information on YouTube, The credit channel, Our specialists in charge of Mrs. Jessica Aliaga will be informing you of any concerns about this and other financial matters of general interest and guidance as in this topic, today we bring you the following report so that you can make your most important economic decisions , also him We invite you to follow our social networks: LinkendIn, Facebook, Twitter and Instagram.