Student loan debt keeps growing. Student loan forgiveness allows people to get rid of their debt. However, it is important for you to avoid getting scammed.
One woman in Fargo, ND received an offer from student loan forgiveness in the mail. The woman was on a plan that would allow her to pay her student loans off in 20 years. However, she received an offer to pay the loans off in 10 years. She was also told that she could make lower monthly payments.
She contacted the organization and was told that she had to give her banking information and credit card information. She was skeptical about giving that information. The woman later found out that she did not qualify for student loan forgiveness because she worked for a non-profit organization.
You can avoid becoming a victim of a scam by not giving out any of your personal information. If you get a letter that claims that it comes from the federal government, then you should be skeptical about this. You should also make sure that you read all of the fine print. The fine print often lets people know that it is a scam.
You will need to contact the loan servicer in order to find out whether you qualify for student loan forgiveness. You will need to continue to make payments while your case is being reviewed. If you miss payments, then you may not be able to qualify for student loan forgiveness.
It is important to remember that not every student loan qualifies for student loan forgiveness. You may have one student loan that qualifies for student loan forgiveness, but the other one does not. If you only have part of your balance forgiven, then you will have to make payments until the balance is paid off.