FTC warns borrowers against student loan scams

The FTC is warning federal student loan borrowers against possible scammers who may try to mislead borrowers by offering assistance – for a fee – to avoid or lower repayments or even have loans forgiven. To avoid falling prey to scammers, the FTC advises borrowers not to give away their Federal Student Aid (FSA) ID login information and not to trust anyone who contacts borrowers directly promising debt relief or loan forgiveness, even if they say they are affiliated with the Department of Education. Borrowers, instead, should visit Federal Student Aid to review their repayment options.