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Is Studora a Scam

Started by vicsrandom, September 11, 2018, 08:08:56 pm

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vicsrandom

Hi there, so in February I received letters about how I can qualify for student loan forgiveness, at first I thought I was a scam, but I decided to give it a try, and called. long story short I ended up getting my loan "forgiven" at least I think I did I'm still unsure. we are in September I haven't heard anything yet. I did have to pay them for them to fill out some paperwork and stuff to send to the department of education. and I read your guys article how that's a red flag for a scam so I'm really worried now because its been 7 months. I checked my navient and it says that my loan is paid off but I'm worried that all of this was a scam. So I'm wondering is Studora which did my loan forgiveness is a legit company or a scam???

TheCollegeInvestor

We have no opinions about third party companies and we don't know what you paid them for specifically, and what they promised. However, I can tell you that no company can get your loans forgiven instantly. There are programs to get your loans forgiven, but even in the best case scenario (assuming no fraud), it takes 10 years/120 payments.

However, depending on the paperwork filed, your loans could have been consolidated and moved lenders - so you no longer have loans at Navient, but maybe another loan servicer.

Check this article and find your loans: https://thecollegeinvestor.com/19370/how-to-find-out-who-owns-your-student-loans/

Also, check your credit report for free at AnnualCreditReport.com and see what happened. Then, make contact with the new lender and see what payment plan you're on.

vicsrandom

Thanks you so much for the info, so what I paid for was for them to fill out paperwork to send to the department of education, now looking at the article, you sent, I recognized great lakes cause shortly after I paid studora I got emails from great lakes saying the consolidated my loan. navient shows my loan is paid, so I now have to pay great lakes? I sure wish i had known this sooner instead of ending up apying three payments of $299. So my next step is to start paying great lakes now?

TheCollegeInvestor

Your next step should definitely be to make contact with Great Lakes and figure out what's going on with your loans, then setup a repayment plan accordingly.