20debt consolidating Free wisc sex chat
The new portal will be designed to “avoid confusion about who is servicing [borrowers’ loans],” according to a 2016 department blog post.
But in the meantime, the complicated system can confuse even the most diligent borrowers and drives some to resort to paying companies for help. After graduating from the University of Illinois at Chicago in 2015 with ,000 in debt and a job making an hour, she knew she wouldn’t be able to afford her monthly federal student loan payments.
“I knew the company was trying to screw me out of money with the huge fee,” she says.
“But I was so desperate for help with my loans that I went along with it anyway.” Student debt relief companies come on strong, according to survey respondents.
” Another post on Craigslist this month touted “an opportunity to make six figures a year while doing this cakewalk student loan sale.” When borrowers hear from debt relief companies directly, the contact can feel near-constant.
Almost a third of respondents say they get calls, text messages, emails, snail mail and direct messages on social media from debt relief companies monthly, and more than a fourth say they are contacted on a weekly basis.
But “feedback has shown borrowers are not always familiar with their servicer,” a 2015 Government Accountability Office report says.More than a dozen debt relief companies were mentioned multiple times, Abrams adds.“I am bombarded with these advertisements and it felt especially invasive when I received a text message,” says Deborah Jacobson, a 33-year-old respondent from Salt Lake City, Utah.The department has sent cease and desist letters to at least five companies that claim to be affiliated with the government: The Student Loan Project; Perfect Privacy LLC, which manages SL Programs Student Loan and Debt Consolidation; Abuv Media, which manages Affordable Colleges Online and Accredited Schools Online; MC Business Group LLC, which manages Loansforgiveness.org; and Student Loan Consultants of America.
The department is collecting additional names of companies through its Federal Student Aid Feedback System, says department press secretary Dorie Nolt.Targeted ads for student debt relief abound on social media and online search engines, like Google, respondents say.