Students are being targeted by companies trying to profit from the current changes in Washington. Don’t fall for it.

 

Recently, a third-party debt relief company, claiming to be the Department of Education, has been leaving voicemail messages for student borrowers claiming that they must act immediately to qualify for student loan forgiveness before the program is eliminated. A transcript of the voicemail follows:

 

“This message is from the Department of Education. In regards to Donald Trump becoming President, all programs for student loan forgiveness will be stopped immediately as soon as he takes office in January. In order for you to qualify, you must apply within the next 24 hours or you will not be able to have your student loan payment reduced. Please contact us at 888.307.0680. The number again is 888.307.3680. Once again you must get enrolled within the next 24 hours.”

Yeah…no.

If you received a call like this, it is a scam. The actual Department of Education offers several options to help Repay (or in limited cases, forgive), your federal student loans. You may also consider grouping multiple loans into one larger one through a process called “Consolidation,” although this may not be ideal for everyone. But the Department of Education does not call to initiate these processes.

~The Office of Student Financial Aid