Self-Help

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:

In December 2014, the Consumer Financial Protection Bureau issued a consumer advisory 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.

Watch this video on Student Debt Relief scams