Consolidating student loans nelnet
A legit company will charge you an amount, but should put that amount into a special third party account and only get paid when they have successfully completed the work.Since paperwork processing and submitting takes time, it could be a 3-6 month process, or longer.As such, while you might pay something up front, it should be clear to you that this money is going into an third party account and you would get it back if the work is not completed.If you have this happen to you, it's a big giveaway that you are likely going to be scammed, or at least asked to pay for something you are not getting.You can always do it yourself by going online to Student or calling your loan servicer.If you choose to pay a third party company, make sure you read this article in-depth and fully understand what you're paying for before moving forward.Is this a student loan consolidation scam or legit company to work with? If you're even asking me, it means you went online, searched the company's name, or found my article on Student Loan Scams, and it raised a big red flag. There are many scams out there, and the CFPB, along with multiple government agencies, have issued warnings to be on the lookout.
Remember, student loan consolidation can be done for free at Student When it comes to student loans, the scam typically unfolds something like this.The company is offering student loan forgiveness, a lower payment, or consolidation.There are several different types of student loan scams, but the most common is a variation of the advance fee scam.This is where you pay for a service (in this case something to do with your student loans) but the company never does any work or produces any results for you.