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March 15, 2021 7:03 AM Dori Zinn - Forbes Advisor
Posted:
Updated:
March 17, 2021 9:15 AM
Imagine being anxious about affording your federal student loan payments. And then you receive a phone call from someone who says he’s affiliated with the U.S. Department of Education. His company can help you qualify for federal programs to permanently reduce your monthly payments.
All you have to do is pay an advance fee of about $1,000, make monthly loan payments directly to this company instead of your servicer and promise to ignore future phone calls and emails from your servicer or the Department of Education. Desperate to get out from under your debt, you sign up.