Student Loan Consultants?

Published

I have been seeing ads on social media for student loan consultants who specialize in nursing. For example:

"Newly graduated or just need help with your student loans? (Company Name) is contracted with the Dept. of Education & we offer free consultations to get your student loans forgiven. Please check out our FB page & give me a call to schedule your free consultation to see how much $$ you can save.”

They seem to charge a filing fee for private loans and a percentage of whatever they can get forgiven for federal loans.

Anyone have any experience with student loan consultants?

jodispamodi

230 Posts

This is a SCAM! The Dept of Ed does not contract with anyone to give loan advice. You can call them directly and speak with someone who can help you without paying a dime.

elkpark

14,633 Posts

Sounds a lot like the other non-student-loan loan "consolidation," loan "forgiveness" agencies that advertise on TV and are basically scams.

amoLucia

7,735 Posts

Specializes in retired LTC.

"If something sounds too good to be true .....

Has 4 years experience.

I spent a few hours with a pad of paper and the internet and educated myself on my options. It IS confusing but a consultant certainly was not needed. Now that I know more, I see that the Consultants were indeed either a scam or an unneeded luxury.