I’ve written a lot about student loans, especially when it comes to the perils of them. I’ve even written about the top student loan scams before. However, every time I hear of a new scam that is targeting individuals already plagued by student loan debt, it just irks me. So, I want to put out this alert on a new student loan scam this is making its way around the country: the idea that there are clauses built into the U.S. Constitution that allow you to discharge your student loan debt.
For The Discharge of Debt
The bottom line behind this scam is the same thing that propels almost every type of scam involving money and debt. A company will contact you and say that they can help you get your student loans forgiven or discharged by doing a simple task. Once you pay the money, they tell you that you can simply write a check to the lender for a nominal amount with the instructions “For The Discharge of Debt”. Supposedly, the lender is going to accept that as your final payment. WHAT A SCAM!
What To Look Out For
The bottom line is you should never have to pay a fee for a legitimate government program – do you have to pay a fee to exercise your First Amendment freedom of speech rights? Also, you should never fall for high pressure sales tactics. Government programs don’t disappear in 14 days. This is the government we are talking about – it takes them years to create a program, years to execute a program, and they give plenty of notice when they are ending a program.
Real Student Loan Forgiveness
The more annoying part is that there are a ton of real student loan forgiveness programs out there. You can check out my resource for Ways to Get Student Loan Forgiveness, which lists over 10 ways, but there are a lot more as well. Don’t fall victim to these scams!
Have you heard of this new student loan scam?