Resources

Student Loan Debt Relief

Beware of companies that specialize in student loan debt relief. These companies charge large up-front or monthly fees for federal student aid services offered by the Department of Education and its student loan services for free. Such services include:

http://www.wtsp.com/news/local/websites-target-those-with-student-loan-debt/158764209

In December 2014, the Consumer Financial Protection Bureau issued a consumer advisory (https://www.consumerfinance.gov/about-us/blog/consumer-advisory-student-loan-debt-relief-companies-may-cost-you-thousands-of-dollars-and-drive-you-further-into-debt/) concerning third-party debt relief companies that schools may wish to use in informing students about these companies.

The advisory includes four warning signs of third-party debt relief companies that student loan borrowers should avoid, including:

The above information is from the U.S. Department of Education Office of Federal Student Aid Electronic Announcement, March 30, 2016.