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Latest from FSA: Beware of Student Loan Debt Relief Offers and Credit Repair “Deals”

August 10, 2014

Millions of students are being exposed to tempting student loan debt relief offers. Many of the companies behind these advertisements are using convincing marketing strategies to target students, borrowers, parents, military service members, and their families. It is important to inform your borrowers of these specific things before they become a victim of one of these enticing offers:

  • Student loan debt relief companies charge fees for services that borrowers can get for FREE.
  • Borrowers should always keep their Personal Identification Number (PIN) to themselves.
  • If a borrower is in default, they are only making their problem worse when they decide to pay additional fees charged by one of these companies. That money could be put towards getting their loan out of default.
  • If a borrower thinks that they have been scammed, they should file a complaint with either one of these agencies:
  • Borrowers should stay in contact with their loan servicers and use their online account access to get more information about their loans.

To read the full article from the Department of Education, visit:

Megan Freese, Communications Intern

Megan Freese, Communications Intern

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