The short answer is that if you get a voicemail about student loan forgiveness or hear about a special program offering “Biden student loan forgiveness” or “Biden student loan relief,” it’s probably a scam.
Also to know is, are the student loan forgiveness phone calls real?
Financial schemes and scams were most frequently reported to have stemmed from a phone call. If you get an email, letter or call about student loan debt forgiveness, pause before you send along any of your personal information. It could be a scam.
Beside above, do student loans go away after 7 years?
Student loans don’t go away after 7 years. There is no program for loan forgiveness or loan cancellation after 7 years. However, if it’s been more than 7.5 years since you made a payment on your student loan debt and you default, the debt and the missed payments can be removed from your credit report.
How do I block spam phone calls?
You can register your numbers on the national Do Not Call list at no cost by calling 1-888-382-1222 (voice) or 1-866-290-4236 (TTY). You must call from the phone number you wish to register. You can also register at add your personal wireless phone number to the national Do-Not-Call list donotcall.gov.
How do I report a scammer?
The Federal Trade Commission (FTC) is the main agency that collects scam reports. Report your scam online with the FTC complaint assistant, or by phone at 1-877-382-4357 (9:00 AM – 8:00 PM, ET). The FTC accepts complaints about most scams, including these popular ones: Phone calls.
How do I report robocalls?
So it might not be worth paying a fee to block a number that will change. Finally, contact the FTC to report your experience. You can do that online at ftc.gov or by calling 1-877-FTC-HELP. To learn more about illegal robocalls and what the FTC is doing to stop them, visit ftc.gov/robocalls.
Is FAMS a legit company?
They’re legit.
According to the Better Business Bureau (BBB), Financial Asset Management Systems, Inc. is a legitimate collection agency initially founded and incorporated in 1993, and the BBB opened its file in 2002. FAMS is listed as a collection agency, a consumer finance and loan company, and an eviction service.
Is nelnet a safe site?
Even so, check and verify your student loan servicer on the Federal Student Aid website to gain peace of mind that these communications from Nelnet are legit. … Nelnet is also your point of contact if you wish to change repayment plans, apply for deferment or forbearance, or work toward student loan forgiveness.
What happens if I answer a robocall?
The robocall’s logic is simple. If you answer their call, your number is considered “good,” even if you don’t fall for the scam. They will try again next time because they know there’s someone on the other side who is a potential victim for fraud. The less you answer, the fewer the calls.
What happens if you never pay your student loans?
Let your lender know if you may have problems repaying your student loan. Failing to pay your student loan within 90 days classifies the debt as delinquent, which means your credit rating will take a hit. After 270 days, the student loan is in default and may then be transferred to a collection agency to recover.
What is a student loan scam?
If a company charges you money upfront to consolidate your federal student loans, it is a scam. These companies will take your money under the guise of a processing fee without ever consolidating your loan. You can consolidate your federal student loans for free by yourself at StudentLoans.gov.
What is the student loan forgiveness Center?
The PSLF Program was established to encourage individuals to work in public service by forgiving the remaining balance of their Direct Loans after they have made 120 qualifying payments while employed by a qualifying employer.
Who do I call about student loans?
call the Federal Student Aid Information Center (FSAIC) at 1-800-433-3243.