Desperation is a terrible thing. It’s horrible to experience, and can lead us into doing things that are in anything but our best interests. Hope that X will fix the problem has led people into ghastly mistakes, the aftermath of which can last a lifetime. It’s understandable that carrying a heavy load of student debt is stressful, and you may also be facing other stressors such as medical or childcare expenses, job insecurity, and even loss of a place to live unless you can do something to cut the expenses. That kind of stress can override even the most finely attuned BS filter.
Is It Too Good To Be True?
There are so many ads out there promoting “Obama Student Loan Forgiveness!” Some will promise to get your loans discharged, others promise to reduce payments, and all of them are straight up ripping off desperate people. In fact, the Consumer Financial Protection Bureau lowered the boom on the so-called “Student Aid Institute” earlier in 2016.
I’d also have to add using official sounding words in their name is a giveaway. Words like “institute,” “federal,” and “bureau” infer a patina of veracity that in this case does not exist, and is used to intimidate.
National Collegiate Trust, I’m looking at you, too.
Even if they are displaying Department of Education seals, or other official sounding logos on their website or paperwork, it does not infer or confirm any relationship with any government agency.
Here’s the straight tell on getting you loans under control; the Department of Education do all this for free:
It’s hard, looking at all that debt, not to freak out and grab the first thing that looks like a life preserver. In this case, scammers are selling tickets to a leaky lifeboat. If you really need someone to help you through, call the office either in Fort Lauderdale or West Palm Beach, and set up a free consultation. We’ll help you get your life, your loans, and your financial situation back under control.
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