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6 ways to spot student loan forgiveness scams


Student loan relief scammers are enticing students with loan forgiveness and false promises. If an offer sounds too good to be true, it probably is. Find out how to spot these 6 scams. (iStock)

Over the past few months, there has been a lot of talk about student loan relief. Federally-held student loan payments are on hold due to COVID. Some private lenders are also offering forbearance and lower monthly payments. 

Sadly, scammers posing as legitimate lenders can take advantage of the hardship caused by the coronavirus pandemic by offering to pay off or at least pay down your student loans. All you have to do is pay an upfront fee and provide some personal information. Sound too good to be true? It likely is.

If you’re looking for immediate student loan relief, Credible can help. Credible can be handy for comparing student loan refinancing rates from multiple lenders without affecting your credit score.

But be diligent and do your homework…

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