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Student Forms, LLC-SCAM or NOT?

Started by perezj08, December 06, 2016, 06:13:05 am

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December 06, 2016, 06:13:05 am Last Edit: December 06, 2016, 07:30:04 am by TheCollegeInvestor
I have two loans through FedLoan Servicing, and I look into the student loan forgiveness program and I am signed up I just haven't signed the contract yet. Obviously there is an initial fee to pay of like $498 that can be broken down to two or three payments and then I pay like $29.00 a month and apparently it's 240 payments of these which is the equivalent of 20 years. They also said that they cut the Department of Education a check for the entire amount of my loan and it becomes a positive mark on my credit. I don't know what to do because it sounds to good to be true. Does anyone know if this is a scam???


Thank you!!


Did you go through the checklist here: https://thecollegeinvestor.com/16429/is-your-student-loan-repayment-company-a-scam/

It sounds like a docuprep company where they are charing you a fee to change your repayment plan to Income-Based Repayment. I would be concerned about what they are telling you about "cutting a check to pay off your loans". You should only make payments to your loan servicer, and not to a third-party.

Remember, you don't need to pay for most things related to your Federal student loans. You can do it for free yourself at StudentLoans.gov or by calling your loan servicer.