After graduation, students who availed a student loan are given a leeway to make the very first payment of their debt.But scammers would try to take this opportunity to deceive the unsuspecting victims so they could get money from them.To avoid this from happening and to protect your money, make sure that you deal with a certified lending company like ihelp.You will be ensured that you will be properly taken care of while trying to achieve your academic goals.
Be very vigilant.Do not just easily believe what a stranger tells you.If it sounds so good to be true, then you would know that it is a scam.
Here are the common scams that you need to be aware of:
Scammers may act like they are offering student loans or as a middleman that will assist you in getting a loan from a lending company.They will tell you all the good things under the sun that you would want to hear and finally, they will ask for an advanced fee for their services.You have to remember that legitimate loan providers DO NOT ask cash out from you.Instead, they will deduct applicable fees from the amount of your loan.
STUDENT LOAN CONSOLIDATION
Students are entitled to avail of different student loans.If you are one of those who took more than one loan, be careful about people who are offering to consolidate your loans.They will tell you that they can make your loans a single debt so you won’t have to make several payments.Also, they will attract you with an offer to make your payments lower as well as the interests.They would say that they can do all these for a fee.This is a red flag so stay away from them.Take note that no one can consolidate your federal student loan but only through Federal Direct Consolidation Program.These people will either bury you into another student loan or will just take your money and disappear.
ELIMINATION OF STUDENT LOAN
There are people who will try to tell you that they can negotiate to get rid of your student loan.They usually go after those people whose debt had incurred higher interests and other charges because of late payment.Keep in mind that that there is no easy way to settle your student loan other than the fact that you have to pay it off.Transact directly with the loan provider.