Tips for Avoiding Student Loan Scams
Just in time for the college loan shopping season, which starts July 1, the Federal Trade Commission has posted a guide to avoid rip-offs.
One of the most important tips is to be very skeptical of any solicitation that looks like it is coming from the federal government. The U.S. Department of Education "does not send advertisements or mailers, or otherwise solicit consumers to borrow money. If you receive a student loan solicitation, it is not from ED," the FTC warns. U.S. News documented some misleading loan ads here and, in partnership with Simple Tuition, offers a tool to help you compare student loan prices.
Tags: FTC | student loans | fraud
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Reader Comments
help
please give me some tips for avoiding scam
student loan scams
The main article warns against solicitations that are not from the federal government (Department of Education).
My opinion is that it is precisely the DOE one has to watch, as Marion of RI points out.
I do not know what one can do if one has paid and has receipts. Send them to your U.S. Representative (copies, of course)?
There are so many offenses in the student loan program that I almost (futilely) would advocate eliminating the programs altogether. I never took a student loan and have taught three fields in colleges.
Just get in touch with studentloanjustice.org. Alan Collinge, the founder, works night and day to get some notice for people in trouble with student loans.
Harold Sewell
scams
how do you go about proving that you paid your loan twenty five years ago. I have all my receipts. who whould i contact? i've tried with the asa and they tell me to pay. right now i'm disabled, nd send in my doctor's letter, but they still keep dunning me and adding interest.
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