PHOENIX — This week, the Federal Trade Commission and Department of Justice announced more than $9 million in refunds to consumers who lost money to a student loan debt relief scheme.
After more than three years of an interest-free repayment pause on federal student loans, millions of borrowers must brace for monthly loan payments to restart in October. The Department of Education is not hiring companies to call borrowers and ask for payment. Asking for money or a fee upfront in exchange for help is a major scam red flag. Another warning sign is someone asking for your Federal Student Aid, or FSA, PIN.
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