Tuesday, October 13, 2020

Did you get an offer for student loan debt relief?

Consumer Alerts from the Federal Trade Commission

by Traci Armani
Consumer Education Specialist, Division of Consumer & Business Education, FTC

Having trouble paying your student loan debt? You might get an offer that says you can reduce your monthly payment, or even reduce your overall debt. The offer might look like it comes from the government…and they might tell you that, first, you have to pay a fee. But it's illegal for a company to ask you to pay a fee up front before they get you the promised relief. And it's illegal for them to pretend to be from the government.

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