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Alleged Student Loan Assistance Employee Warns Consumers

Both the National Consumer Law Center and this site have provided warnings to consumers over student loan assistance programs that can do more potential harm than good.

But an insider with a student loan assistance company and now tipster (send in your tips here) sent in the following warning for readers.

“I’m not using my real name for employment reasons. This company makes it virtually impossible for people to manage their student loans. They get a power of attorney that is vaguely worded, change the FAFSA PIN, delete the username at all loan servicer websites, create a new username, and make changes to the customer’s accounts.

No amount of power of attorney should allow all of this.

They offer the same programs that are already available for free. They charge a percentage of the loan debt in installments, take their fee, and forward the payment to the company that is now servicing the Direct Loan Consolidation.

When called, they say the customer is on the other line and offer to take a message. When asked if it is [company name], they say no and hang up abruptly.”

I would agree, that sounds awfully sketchy.

For other employees inside student loan assistance companies, be brave and be a tipster (send in your tips here) so we can better protect consumers.

Yea, this is all going to end badly for everyone if these allegations are true.


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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.
  • jsussixfer

    They also hack your Facebook.

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