Every day, false promises of help lure in young college grads anxious to pay off their loans. So-called debt-relief companies make bold and sometimes misleading offers to the grads by charging for a service they could have easily performed themselves.
One company offers “Obama’s new loan forgiveness program,” which doesn’t even exist.
College grads who pay to get help consolidating their debt spend more than $600, on average, for a service they could be getting straight from their loan provider for free, according to a joint survey from personal finance site NerdWallet and the nonprofit Student Debt Crisis, released this week. Yet the complicated federal student loan system has given rise t…
Read the full article at: http://www.csmonitor.com/Business/2016/0818/Student-debt-relief-companies-don-t-deliver-on-promises-study-shows
