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William B. Ford Act: Is it a scam?

Started by shbruce, February 18, 2016, 06:13:27 pm

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Can anyone give me some information about federal student loan payments.

I'm concerned I might be in a scam, but I don't want to back out of a good thing.

They said I'm approved  through the William D. Ford act for a pay as you earn program and because I'm a student and only work part time, it's a 0 dollar payment. I already gave them my social and bank card number and I think I want to back out. What should I do?


February 20, 2016, 01:16:42 pm #1 Last Edit: September 16, 2018, 08:34:34 pm by TheCollegeInvestor
PAYE is a valid repayment program - but you sign up for it for free on StudentLoans.gov or by calling your lender.

Chances are you're writing this because you're paying a company to sign up for you, and that's paying for something you don't need. Remember, you can fill out everything yourself with your student loans at StudentLoans.gov or by calling your loan servicing company.

Here's a full article that breaks it down: https://thecollegeinvestor.com/16429/is-your-student-loan-repayment-company-a-scam/