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Student Loan Advocacy Group

Started by MCalligan91, October 17, 2016, 01:38:35 pm

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MCalligan91

Has anyone heard of the Student Advocacy Group?  They called me and they got my information. Is it legit? If not, what do I do?

swamileoni

October 17, 2016, 02:44:05 pm #1 Last Edit: October 17, 2016, 04:08:24 pm by TheCollegeInvestor
Hi MCalligan91,

Another doc prep company looking to set you up on a federal payment option that you can do yourself for free.  The hook here is that more than likely they will try to sucker you into a yearly subscription with them. 

What Else Can I Do?
"Because many borrowers who struggle with private student loans also have federal student loans, often the best first step of any strategy to improving your student loan situation is to consolidate your federal student loans to take advantage of the Income Driven Repayment Plans available. You can do this through the Department of Education or your loan servicer yourself, or you can pay a private document preparation company to help you better understand your options and help you enroll in the program that is most beneficial to you. We specialize in helping borrowers take advantage of income driven programs and would love to help you assess and improve your situation."

This is the yearly subscription bait (for the life of the loan).
studentloanag<dot>/document-services/

Document Services
"Once you are enrolled in to an income driven program it is crucial that you maintain your program for the life of the loan in order to receive the federal loan subsidy(loan forgiveness). The problem that consumers face is tracking payments, refiling on time and complying with changes to programs as they occur. Many people enroll only to fall out of the program at which point all of the accumulated interest can be added back to your loan, only taking you deeper in debt.

Education Processing Center offers a transparent solution for this: Loan Servicing. We apply, maintain, reapply and move you to new programs when it is advantageous. We take the tracking, compliance and guess work out of your new program and our objective is to maximize the best program to bring you the lowest or most economical repayment plan possible."

As long as you stay on top of your loans, you will not need this company.  Just make sure when you're doing your taxes for the year to also get in contact with your loan servicer and see if anything has changed and provide your taxes to them.