Student Loan Forgiveness Scam

Companies advertise guaranteed student loan forgiveness or dramatically reduced payments for an upfront fee, then either do nothing, enroll borrowers in a plan they could have gotten for free, or steal the login credentials used to "help."

A company advertises through social media, robocalls, or email claiming to offer guaranteed loan forgiveness, dramatically reduced payments, or enrollment in a "limited-time" federal program, and asks for an upfront enrollment fee or monthly payment routed through them instead of the real loan servicer. In many cases the company simply enrolls the borrower in an income-driven repayment plan they could have signed up for free directly with their servicer, or it collects the victim's FSA ID and login credentials and uses them to redirect the loan account or apply for aid fraudulently.

• A request for an upfront fee to apply for loan forgiveness or consolidation.
• Claims of a "limited-time" or "special" government program you must act on immediately.
• A request for your Federal Student Aid (FSA) ID or password.
• Contact came from an unsolicited call, text, or social media ad rather than your actual loan servicer.

• Legitimate loan forgiveness and repayment programs are always free to apply for directly through your loan servicer.
• Never pay an upfront fee for loan forgiveness or consolidation help.
• Never share your Federal Student Aid (FSA) ID with a third party.
• Verify any offer directly at StudentAid.gov.