Debt relief companies will say they can help reduce your monthly payment or get your loans forgiven. But after you pay, you might be worse off. You don’t get the promised help — or your money back. If you stopped paying your loans, your credit could be damaged, too, and your loan balances could balloon. You don’t have to pay for help with your student loans. A company can’t do anything you can’t do for yourself.
Your education is a valuable asset, but you made need some help taking care of loans required to obtain that asset.
In certain situations, you can have your federal student loans forgiven, canceled, or discharged. Learn more about the types of forgiveness and whether you qualify due to your job or other circumstances.