The Division of Professional Regulation of the Department of Financial and Professional Regulation can deny licenses or renewals to those who have defaulted student loans or scholarships provided or guaranteed by the Illinois Student Assistance Commission, any governmental agency of the state or any federal government agency. Your monthly income could also be a factor, as lenders want to be certain you can afford your loan payments. It has become a what is necessary. Your school will determine your loan offer. The site is informative and well designed, but this is only a referral site. I fell for it. And, in a higher rate environment, you will not be able to refinance your student loans to a better option because all rates will be going up.
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Here is a full list of the criteria I considered while making my picks:. But before you take out a debt-consolidation loan with these or any other lenders, read on to make sure you know as much as possible about debt consolidation. Debt consolidation is true to its name. Your monthly payment will likely be lower with the new single loan than the combined payments of your previous debts. Unlike debt settlement, you do not actually reduce the principal amount you owe — you will still be paying the full amount.
Debt consolidation is not without risks. Secured loans are tied to some sort of collateral — a valuable asset that the lender can take in the event you no longer pay your bills.
Common collateral includes your house or car. The interest may also be tax-deductible. You may also be paying down this kind of loan for much longer. Home equity loans are among the most common kind of secured debt-consolidation loans. Unsecured loans also usually take less time to pay down. However, getting an unsecured loan is tougher, especially if your credit is tarnished. Personal loans, credit-card balance transfers, and loans offered solely for the purpose of debt consolidation are among your options here.
You can also apply for a personal loan at most local banks and credit unions — while the lending process can move slowly, you can get more personal service this way.
Finally, if you can roll your debt onto a credit card with a very low introductory rate, this is a viable option, too. You may also be wondering about debt-consolidation companies that will make you a loan to pay off your existing debts. Above all else, the best debt consolidation companies are transparent about their methods. For more about avoiding scams, keep reading. Of course, all of these strategies have their own pros and cons, and only you can decide whether they are better or worse for your unique situation.
Unlike most consolidation loans, there are no fees to worry about with Tally , and the interest you pay on your line of credit should be lower than what your cards are charging you, helping you get out of debt faster. Depending on your credit history, your APR which is the same as your interest rate will be between 7. This information is accurate as of August Counselors working on behalf of reputable nonprofit credit-counseling agencies can help you create a plan to better manage your money and budget for debt payments.
A debt settlement company negotiates with creditors on your behalf. How long it takes largely depends on how quickly you can save enough to begin negotiations, but most companies allow two to four years for the process. Settlement has big risks, though, including big fees, damage to your credit score, and tax liability. Take a look at my separate post on debt settlement companies for more details.
In debt management, a company negotiates with your creditors to lower your interest rates and monthly bills, but the principal remains the same. Finally, it can also be tricky to separate legitimately helpful programs from scams and shady fly-by-night companies. Take a look at my separate post on debt management companies for more details. For most people, bankruptcy is the nuclear option. The negative implications of bankruptcy can certainly be severe , including a massive impact on your credit.
Beware of bankruptcy lawyers who tell you bankruptcy is better than debt consolidation. There are also potential drawbacks to transferring your parent PLUS loans. The borrower loses access to federal programs. The child might not qualify for a good rate.
The graduated plan starts with a lower rate, which usually increases every two years. The ICR plan will adjust your monthly payments based on your discretionary income, and any remaining balance will be forgiven after you make payments for 25 years. You may, however, have to pay income taxes on the forgiven amount. Parent PLUS loans are eligible for some of the same federal cancellation and discharge programs as federal student loans lent directly to students.
You could also get part of the loan forgiven through the Public Service Loan Forgiveness. To qualify, you not your child must work for an eligible employer, such as a government or nonprofit tax-exempt c 3 organization, and make qualified monthly payments. There are a variety of federally funded and private student loan repayment assistance LRAP programs that could also help you with your loan. Many of these programs are targeted at people in specific professions, such as those who work in health care, law or the military.
And there may be additional requirements to work in high-need areas. Depending on the program, you may receive an additional signing bonus or annual stipend that will be sent to your loan servicer to repay your student loan. Just as your child may be able to refinance his or her student loans, you may be able to refinance your parent PLUS loan with a private lender.
You may be able to qualify for a lower interest rate or change your loan term, which could lower your monthly payment and may save you money over the lifetime of your loan. Louis DeNicola Louis is a personal finance writer who works with Fortune financial services firms, FinTech startups, and non-profits to help promote financial literacy. Student loan debt relief scams to watch out for Student loan debt elimination scams Loan consolidation scams Student loan lawsuit scams.
Red flags Already a victim of a student loan forgiveness scam? Legitimate student loan debt relief strategies. Student loan debt relief scams to watch out for.
Lower monthly payment or interest rate scams Some companies will ask for upfront enrollment fees or monthly maintenance payments with a promise to lower your monthly payments or reduce your interest rates.
Loan consolidation scams If you have multiple student loans, consolidating combining the loans could make it easier to manage your finances and may lower your monthly payment. Here are a few others to watch out for: There are programs that may lead to loan forgiveness or cancellation, but they only apply to certain types of loans and the process can take years to complete.
Legitimate companies and individuals may charge fees to help you better understand your situation and options. In some cases, the scammers may try to convince you that the initial fee will pay down your debts, but then they actually pocket the money. Also, watch out for companies that ask you to make your monthly payments to them rather than your loan servicer.
Student loan programs may come and go, but tying an offer to a new program can be a warning sign. The added pressure can make some people fall for this trick. Cohen says while there are proposals that would end some federal forgiveness programs, they only affect future borrowers. While it may seem like the same info you use to log into dozens of other sites, your FSA ID may be much more important. It can be used to sign loan agreements, apply for different student loan repayment plans and to consolidate a loan.
By signing a power of attorney or third-party authorization form, you may be giving the company the legal right to make changes to your loans on your behalf. They claim to be part of the Department of Education. If you have federal student loans, StudentAid. With private student loans, contact your servicer before trusting a third party.
Misspelled words, grammatical errors, a notice urging you to sign up in all caps or other unprofessional communications could also be a red flag. Even if the company has the best intentions, you may not want to work with it. Already a victim of a student loan forgiveness scam? Advertiser Disclosure Share this article: Understanding a student loan amortization schedule Amortization and income-driven repayment plans Steps to beating the student loan amortization schedule Cut back on other expenses Automate extra payments Refinance with caution Prioritize higher interest-rate loans Take advantage of income-driven repayment.
After that, the government will pay half of the remaining interest on subsidized loans. For unsubsidized loans under REPAYE, the government will pay half of remaining interest during the entire life of the loan. For subsidized loans under PAYE or Income-Based Repayment IBR , the government will pay all remaining interest for up to three consecutive years at the beginning of your repayment plan.
After that, unpaid interest will accrue without any government assistance. Cut back on other expenses One of the best ways to find more room for student loan payments is to simply look at your other expenses and find places to scale back. Automate extra payments If you have the room in your budget to make regular extra payments toward your student loans, automating those payments helps to make sure they happen consistently.
Refinance with caution If your student loans have higher interest rates, refinancing could be a good option to explore. Prioritize higher interest-rate loans There are two schools of thought when it comes to paying off debt. Take advantage of income-driven repayment You may be eligible for income-driven repayment if you have federal student loans.
Nick Clements Nick Clements has worked in consumer banking for nearly 15 years and is the co-founder of MagnifyMoney. Can I get approved? Loan approval rules vary by lender. However, all of the lenders will want: Proof that you can afford your payments.
That means you have a job with income that is sufficient to cover your student loans and all of your other expenses. Proof that you are a responsible borrower, with a demonstrated record of on-time payments.
For some lenders, that means that they use the traditional FICO, requiring a good score. For other lenders, they may just have some basic rules, like no missed payments, or a certain number of on-time payments required to prove that you are responsible. Here are more details on the 7 lenders offering the lowest interest rates: Variable rates from 2. Access to career coaches: SoFi offers their borrowers access to their Career Advisory Group who work one-on-one with borrowers to help plan their career paths and futures.
SoFi offers some help if you lose your job. During the period of unemployment they will pause your payments for up to 12 months and work with you to find a new job. However, just remember that any unemployment protection offered by SoFi would be weaker than the income-driven repayment options of federal loans. Cons Cons No cosigner release: While they offer you the opportunity to refinance with a cosigner, it is important to know that SoFi does not offer borrowers the opportunity to release a cosigner later on down the road.
This con is not unique to SoFi and you will find it with all other private lenders. Federal loans come with certain protections, including robust income-driven payment protection options.
You will forfeit those protections if you refinance a federal loan to a private loan. Bottom line SoFi is really the original student loan refinance company, and is now certainly the largest.
Variable Rates from 2. Pros Pros Flexible repayment options: Earnest offers some of the most flexible options when it comes to repayment. They allow you to choose any term length between years.
You can choose your own monthly payment, based upon what you can afford to the penny. Ability to switch between variable and fixed rates: With Earnest, you can switch between fixed and variable rates throughout the life of your loan. You can do that one time every six months until the loan is paid off. That means you can take advantage of the low variable interest rates now, and then lock in a higher fixed rate later.
Earnest is one of just a few lenders that provides in-house loan servicing versus using a third-party servicer. Cons Cons Cannot apply with a cosigner: Unlike many of the other lenders, Earnest does not allow borrowers to apply for student loan refinancing with a cosigner.
When refinancing with any private lender, you will give up certain protections if you refinance a federal loan to a private loan. Bottom line Earnest, who was recently acquired by Navient, is making a name for themselves within the student refinancing space.
Pros Pros Hybrid loan option: This option can be a good choice for borrowers who intend to make extra payments and plan on paying off their student loans within the first five years. If you can a better interest rate on the Hybrid loan than the Fixed-rate option, you may end up paying less over the life of the loan. CommonBond will fund the education of someone in need in an emerging market for every loan that closes.
So not only will you save money, but someone in need will get access to an education. CommonBond is here to help if you lose your job. Similar to SoFi, they will pause your payments and assist you in finding a new job. Cons Cons Does not offer refinancing in the following states: Bottom line CommonBond not only offers low rates but is also making a social impact along the way.
Pros Pros Opportunity to work with local banks and credit unions: LendKey is a platform of community banks and credit unions, which are known for providing a more personalized customer experience and competitive interest rates. Offers interest-only payment repayment: Many of the lenders on LendKey offer the option to make interest-only payments for the first four years of repayment.
Cons Cons Rates can vary depending on where you live: The rate that is advertised on LendKey is the lowest possible rate among all of its lenders, and some of these lenders are only available to residents of specific areas. So even if you have an excellent credit report, there is still a possibility that you will not receive the lowest rate, depending on geographic location.
Unlike several of the other student loan refinancing companies, borrowers do not have the ability to refinance Parent PLUS loans with LendKey.
As when refinancing federal loans with any private lender, you will give up your federal protections if you refinance your federal loan to a private one.
Bottom line LendKey is a good option to keep in mind if you are looking for an alternative to big bank lending. Pros Pros Forgiveness in the case of death or disability: They may forgive the total student loan amount owed if the borrower dies before paying off their debt.
In the case that the borrower suffers a permanent disability that results in a significant reduction to their income,Laurel Road Bank may forgive some, if not all of the amount owed. Offers good perks for Residents and Fellows: It is important for borrowers to keep in mind that the interest that accrues during this time will be added on to the total loan balance. Cons Cons Higher late fees: While not specific to Laurel Road Bank, it is important to keep in mind that you will give up certain protections when refinancing a federal loan with any private lender.
Bottom line As a lender,Laurel Road Bank prides itself on offering personalized service while leveraging technology to make the student loan refinancing process a quick and simple one.
Pros Pros No degree is required to refinance: Bottom line The Education Refinance Loan offered by Citizens Bank is a good one to consider, especially if you are looking to stick with a traditional banking option.
Variable Rates from 4. Pros Pros In-house loan servicing: When refinancing with Discover, they service their loans in-house versus using a third-party servicer. Offer a variety of deferment options: Discover offers four different deferment options for borrowers.
If you decide to go back to school, you may be eligible for in-school deferment as long as you are enrolled for at least half-time. In addition to in-school deferment, Discover offers deferment to borrowers on active military duty up to 3 years , in eligible public service careers up to 3 years and those in a health professions residency program up to 5 years.
Cons Cons Performs a hard credit pull: While most lenders do a soft credit check, Discover does perform a hard pull on your credit. Be careful when deciding to refinance your federal student loans because when doing so, you will lose access federal protections, forgiveness programs and repayment plans.
Additional Student Loan Refinance Companies In addition to the Top 7, there are many more lenders offering to refinance student loans. We will continue to update this list as we find more lenders: The interest rates are great, but this option is not for everyone.
Fixed rates range from 1. First Republic wants to recruit their future high net worth clients with this product. As a traditional lender, Wells Fargo will look at credit score and debt burden. They offer both fixed and variable loans, with variable rates starting at 4.
You would likely get much lower interest rates from some of the new Silicon Valley lenders or the credit unions. Credit Unions Alliant Credit Union: Anyone can join this credit union.
Interest rates start as low as 3. Credit union membership is restricted see eligibility here. Fixed rates start at 6. Navy Federal Credit Union: This credit union offers limited membership.
For men and women who serve or have served , the credit union can offer excellent rates and specialized underwriting. Variable interest rates start at 4. It is important to note that in order to qualify for refinancing through Thrivent, you must be a member of the Thrivent Federal Credit Union. If not already a member, borrowers can apply for membership during the student refinance application process. This credit union has limited membership you can find out who can join here , but you had better be in Wisconsin.
This is a student loan refinancing option that is offered through SouthEast Bank. They have competitive rates with variable rates ranging from 2. This company is the non-profit student loan program of the state of New Hampshire which has become available more broadly. Rates are very competitive, ranging from 4.
This service will find a community bank. Fixed rates range from 4. If you want to get a loan from a community bank or credit union, we recommend trying LendKey instead.
Purefy lenders offer variable rates ranging from 2. Just answer a few questions on their site, and you can get an indication of the rate. Just like New Hampshire, the state of Rhode Island wants to help you save. You can get fixed rates starting as low as 3.
And you do not need to have lived or studied in Rhode Island to benefit. Is it worth it to refinance student loans? This is particularly important if you have Federal loans. Lindsay VanSomeren Lindsay VanSomeren is a personal finance writer living in Tacoma, WA with a houseful of pets including two cats, a dog, and a husband.
Did you study extra hard this year? Past categories have included things like Amazon purchases, restaurants, and ground transportation.
Cash back match at end of your first year: When your first card anniversary comes around, Discover will automatically match your cash back rewards you earned during your first year. Cons Cons Remember to sign up for bonus places: Even though this card comes with a great cash back rewards program, it comes with a catch: You can do this by calling Discover or logging in to your account online.
Gift certificates only available at certain levels: You can redeem your rewards for many things such as Amazon purchases, a statement credit, or a donation to a charity, to name a few. Best for Commuter Students. Magnify Glass Pros Cashback program: The higher rate you get for gas purchases is great for students who commute to class. Cardholders who redeem this way will maximize their cash back. A large part of getting a credit card in college is to build your credit score.
Cons Cons Foreign transaction fee: You will negate any cash back earned while using this card outside the U. Magnify Glass Pros 1. This makes it handy for people who want as simple a card as possible. And it rewards great behavior. Higher credit lines after on-time payments: If you make five on-time payments in a row, you can call Capital One and ask them to increase your credit line. No foreign transaction fee: Bottom line We really like this card because it actively rewards you for developing good credit-management behavior by offering a small cash back bonus for on-time payments.
Magnify Glass Pros Interest rates as low as Depending on your credit, your interest rate could be between Wells Fargo provides you with all sorts of tools and information to learn about things like credit, budgeting, and expense tracking.
You can get this information from free tools such as Mint, or even reading books and blogs. But it is pretty handy having it right at your fingertips when logged in to your account. Cons Cons Need to be a Wells Fargo member to apply online: High bars for some cash back redemption options: Rewards Rate Earn double Reward Points on every dollar of purchases in the first 60 days after opening your new account, then 1 point per dollar spent.
You can redeem these points for cash back, merchandise through their online rewards mall, or travel. Redeem points for a lower interest rate: You can trade in 5, points for a 0. That could end up saving you a ton of cash in the long run. Must join Altra Federal Credit Union: Luckily, anyone can join, but it might take a bit of legwork on your part compared to a bank.
Best for Studying Abroad. Rewards Rate Earn unlimited 1. No foreign transaction fees: When you travel abroad you will not be charged additional fees like other cards. You will earn unlimited 1. Redeeming this way allows you to maximize your cash back rewards. The main reason to get a credit card as a student is to boost your credit score. So, actually being able to see your credit score is a huge help, especially as you can watch it climb over time with good credit management. Cons Cons Subpar cashback rate: The cash back rate for this card is lower than other cards.
However, cards with higher cash back rates often charge foreign transactions fees, not making them ideal for students traveling abroad. This card has a feature uncommon to other secure cards — a cashback program.
And no limit to how much is matched new cardmembers only. This is a great added bonus that increases your cash back in Year 1. Automatic monthly reviews after eight months: Discover makes it easy for you to transition to an unsecured card with monthly reviews of your account starting after eight months. Reviews are based on responsible credit management across all of your credit cards and loans. Cons Cons Security deposit: If you want a higher credit limit, you need to increase your deposit.
The security deposit is refundable, meaning you will receive your deposit back if you close the card, as long as your account is in good standing. Best for No Credit History. Magnify Glass Pros No credit history required: You can qualify for this card without any credit history, making this a great option for students new to credit. Whether you travel abroad or study abroad, you can rest easy: There are no foreign transaction fees with this card.
Cons Cons Low cash back rate: You can do better with some of the other cards mentioned in this post. Also Consider Also Consider. Why should I get a credit card as a college student? How can I protect myself from racking up debt? How can I automate my credit card usage? What happens to my student credit card when I graduate?
What should I look for in a student credit card? Here is a summary of our favorite cards: Alexandria White Alexandria is a credit card writer covering everything from the latest credit card news, individual card reviews, and Best Of roundups to tips for getting the most value out of your card.
So, where do you go from there? But where do you even begin to choose the right checking account? Take note some accounts may require you to meet certain criteria to maintain a free account like using a debit card, enrolling in eStatements or maintaining a minimum daily balance. No minimum daily balance: This may allow you to have a free account without meeting balance requirements — note, other terms may apply to maintain a free account.
Annual Percentage Yield is the total amount of interest you will earn on balances in your account. Opening an account that earns you interest on your balance is an easy way to be rewarded for money that would typically sit without earning anything. Some checking accounts earn interest, albeit rarely, but you should definitely aim to earn a decent APY on your savings account.
No or low overdraft fees: Top overall checking accounts for college grads The best checking accounts will have a number of features that are both simple and low cost. Top high-yield checking accounts for college grads Since most checking accounts offer little to no interest, high-yield checking accounts are a great way for you to maximize the money that typically would just sit in your account without earning interest. Synchrony Bank 13 Month CD.
Here are the states where these penalties exist and may be enforced: Jobs affected All jobs that require state-issued professional licenses, certificates, permits to perform, including teachers, nurses, pharmacists, security guards and pesticide applicators.
If you lost your license because of student loan debt The licensing agency will notify you of the refusal of non-renewal. Arkansas Overview of the law The Arkansas State Medical Board may revoke or suspend a license, impose penalties or refuse to issue a license when a physician in this state has breached a Rural Medical Practice Student Loan and Scholarship contract. Florida Overview of the law In Florida, the Department of Health may suspend a state-licensed health care practitioner who has failed to repay a student loan issued or guaranteed by the state or the federal government.
Jobs affected More than 50 professions that require state health department licenses, including nurses, medical physicists, body piercers, septic tank contractors and dentists.
Georgia Overview of the law A professional licensing board can suspend the license of anyone who has defaulted on any federal education loan. Jobs affected More than 40 professions that require state-issued professional licenses. Hawaii Overview of the law Hawaii licensing authorities can deny a license application or a renewal or suspend a professional license if you default on a student loan made or guaranteed by the state, state agencies or the federal government.
Jobs affected Jobs that require professional licenses issued under 25 state licensing boards. If you lost your license because of student loan debt Your license can be renewed or reinstated when the licensing authority is notified that you are making payments or satisfying the terms of the student loan, student loan repayment contract or scholarship contract and are no longer in default or breach of the loan or contract.
Illinois Overview of the law The Division of Professional Regulation of the Department of Financial and Professional Regulation can deny licenses or renewals to those who have defaulted student loans or scholarships provided or guaranteed by the Illinois Student Assistance Commission, any governmental agency of the state or any federal government agency.
Jobs affected Jobs that require state-issued professional licenses. Licenses affected Professional licenses issued by the state that workers need to engage in a trade, profession or business. If you lost your license because of student loan debt You can get a license approved or reinstated if you schedule a conference with the commission to enter into an agreed on a repayment plan or pay off the debt within 20 days after you receive a mailed notice about your alleged loan default or a notice of suspension, revocation, denial of issuance or non-renewal of a license.
Jobs affected Jobs that require state-issued professional licenses, including home inspectors, athlete agents, alcohol and drug counselors and more. Louisiana Overview of the law The state of Louisiana can deny an application for or renewal of any professional or occupational license to anyone who has defaulted on a federal student loan guaranteed by the Louisiana Student Financial Assistance Commission LOSFA. Jobs affected Jobs that require state-issued professional licenses, which include dentists, nurses, physical therapists, insurance agents and more.
Massachusetts Overview of the law A professional or occupational license can be denied for any applicant who is in default on an educational loan under any program administered by the Massachusetts Education Financing Authority MEFA or the Massachusetts Higher Education Assistance Corp. Jobs affected Nearly jobs that require state-issued professional licenses from 39 boards of registration. If your license is denied because of student loan debt You should receive a notice of denial and can then ask your loan agency for a review of the alleged default within 30 days of receiving the notice.
Minnesota Overview of the law In Minnesota, health professionals who have defaulted on a federally secured student loan or failed to fulfill a repayment or service obligation can face denial of a license by a health-related licensing board. Jobs affected Health-related professionals, including physicians, nurses, dentists, therapists and barbers.
If your license application is denied because of student loan debt A licensing board has to consider the reasons for the default. Mississippi Overview of the law When certain health care practitioners and hospital employees fail to comply with an educational loan contract obtained through a state-paid educational leave program, their professional licenses can be revoked.
Jobs affected Health-related professionals and hospital workers who earned their licenses through educational paid leaves offered by state health institutions. If your license is revoked because of student loan debt A revoked license will be restored if you can prove that your contract is no longer in default. New Mexico Overview of the law Under the state law, New Mexico barbers and cosmetologists may face denial of issuance or renewal, suspension or revocation of their occupation licenses if they have defaulted on a student loan.
Jobs affected Barbers and cosmetologists. If your license is denied renewal because of student loan debt Before the Board of Barbers and Cosmetologists takes any action against your license, you can request a hearing within 20 days after being served a written notice about the default. South Dakota Overview of the law South Dakota established the Obligation Recovery Center in to recover debts owed to the state, including unpaid university tuition or fees.
If you lost your license because of student loan debt In order to restore the license or permit, the debtor has to either pay the debt in full or has entered into a payment plan with the center and be current on payments.
Tennessee Overview of the law State licensing authority may suspend, deny or revoke the license of anyone defaulted on a repayment or service obligation under any state or federal student loan or service-conditional scholarship program.
Jobs affected Jobs that require government-issued professional licenses, including teachers, dentists, massage therapists, nurses, barbers, geologists, accountants and many more.
If you lost your license because of student loan debt Within 90 days after you receive notification of the alleged default, you can keep your license if you pay off the debt, enter into a payment plan or service obligation or comply with an approved repayment plan. Texas Overview of the law Licensing agencies in Texas can deny a renewal for a license to anyone who has defaulted on a student loan or a repayment agreement guaranteed by the Texas Guaranteed Student Loan Corp.
Affected jobs All professions that require state-issued professional licenses. Is college worth the cost? Advantages of attending college Drawbacks of attending college Is college right for you? Advantages of attending college iStock A degree could help you get a job A college degree could help open doors and may be a requirement to start certain career paths.
Student loans could impact many areas of your life Taking out student loans is a necessity for many college students. Is college worth it for you? Are you prepared for the cost? Are you ready for the academic rigor? Have you identified your career goals?
Does your desired degree increase your earning potential? Do you have a plan for repaying student loans? Will you make the most of your time at college? Have been registered with the FCC for over 12 years and nothing ever gets done. I'm pretty sure i did everything I wasn't suppose to, regarding student loans. Fell victim, fooled once, not again. Basically I was just paying them to fill out the free paperwork bc I qualified for a no payment on income based repayment. Then when my income increased and I had a monthly payment, they just added that to my monthly fee to them.
This is a moderated blog; we review all comments before they are posted. We expect participants to treat each other and the bloggers with respect. We will not post comments that do not comply with our commenting policy.
We may edit comments to remove links to commercial websites or personal information before posting them. Comments submitted to this blog become part of the public domain. Also, do not use this blog to report fraud; instead, file a complaint. Federal Trade Commission Consumer Information consumer. FTC continues to crack down on student loan scams. Share this page Facebook Twitter Linked-In. March 8, by Ari Lazarus. Here are some tips to avoid student loan repayment scams: Never pay an upfront fee.
Companies that make you pay upfront might give you no help and not give your money back. Only scammers promise fast loan forgiveness. Before they know your situation, scammers might say they can quickly get rid of your loans through a loan forgiveness program. Scammers use official-looking names and logos and say they have special access to certain federal programs. Scammers could use it to take control of your personal financial aid information on U.
Department of Education websites. Anonymous April 10, reply. Kathie April 18, reply. GailR August 28, reply. Kelly March 8, reply. Mimi June 15, reply. June 25, reply. I am going crazy too. Spencer March 9, reply. Joanne F March 8, reply. Cicero March 8, reply.
Colonel Buddy March 8, reply. March 8, reply. That's a good one! Dran March 10, reply. Sha Hay August 4, reply. I recommend, never ever give your number to any store. Linda Lou March 13, reply.
Fed Loan Servicing is a scammer! Bloopert March 16, reply. Pride May 16, reply. Abbyroad March 19, reply. Has anyone dealt with Square One Solutions? I read an article about that group, Square One Resolutions is a scam. Rada April 3, reply. How do I stop the calls from the Student Aid scammers? Mcarter April 7, reply.
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Getting A Loan On A Mobile freeadultwebcam.cf loan-on. Maybe some classes but no loans. I answered the call and talked with a live person. I don't fall for scams, I don't even trust the real people. Its a shame that you can't trust people and I don't see how they can sleep at night, making people scared. Then when my income increased and I had a monthly payment, they just added that to my freeadultwebcam.cf › Home › Blog. Lower monthly payment or interest rate scams. Some companies will ask for upfront enrollment fees or monthly maintenance payments with a promise to lower your monthly payments or reduce your interest rates. Paying off your student loans is no easy feat. It can be hard enough to fit the minimum monthly payments into your freeadultwebcam.cf://freeadultwebcam.cf
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