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Is Federal Student Aid Relief for Real and Can Reduce My Student Loan Payments? – Kari

“Dear Steve,

I have been speaking with the Federal Student Aid Relief I havent signed or paid anything yet. I was hoping this was for real because I really need help. So this is a scam? What should I do?

What company can help me with my loans because I am drowning..

Kari”

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The Answer

Dear Kari,

These student loan companies are pissing off a lot of people, regulators included.

They make it sound as if consolidating your loans and putting them on a reduced payment plan is the magic wand to dealing with your debt. It’s not. In fact it can leave you in a worse spot in the long run if their are better alternatives.

See The Ultimate Guide to Dealing With Student Loans You Can’t Afford.

You can read my previous story about Federal Student Aid Relief, here.

I would be very concerned if the company did not try to help you first deal with your underlying debt and did not inform you the consolidation and reduced payment services are free from the Department of Education.

There is nothing you shared with me that would lead me to believe it’s a good move or that you’ve been fully informed about your options.

Please post your responses and follow-up messages to me on this in the comments section below.

Big Hug!

Is Federal Student Aid Relief for Real and Can Reduce My Student Loan Payments?   Kari
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About Steve Rhode

Steve Rhode
Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.

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