Steer clear of a student loan scam

Steer clear of a student loan scam

So, you simply got a notification stating you will want to check in the college loans which have FedLoan, and you are clearly questioning in case it is a scam.

Right here is the information: FedLoan Upkeep try a legitimate business. It’s one of the education loan servicers contracted by the You.S. Company regarding Training to handle government figuratively speaking.

This new 411 for the FedLoan Servicing

This new Pennsylvania Degree Assistance Service (PHEAA) authored FedLoan Maintenance in ’09 to aid brand new You.S. Agencies away from Training service government figuratively speaking-especially, Federal Family relations Education Loans (FFEL) and you will Direct Finance. These are typically one of not totally all organizations authorized by the You.S. Company regarding Degree to take action.

Unfortunately, FedLoan Servicing provides a reputation to own bad customer support, and it also was associated with a serious scandal for the 2018 you to continues to effect consumers.

This new FedLoan Teach Offer debacle

When you look at the , NPR reported that thousands of instructors was in fact against significant debt lots after their federal provides was actually unfairly and you can improperly converted into loans. Read more