Aug 03, 2016 04:00 AM EDT
Student Loan Freedom Available, Thousands of Students Unaware
Student loan freedom is now available for thousands of students in the United States facing struggles in finding finances to pay for their debt.Everest University's recent closing left tens of thousands of students wondering how to pay down for their student loans.
Good thing, the Department of Education made an announcement that they are forgiving student debtors tens and thousands of dollars of their loan obligations.However, this announcement made a dawdling speed of reaching its goal to ease students' minds of their loan payment.
The delay in fulfilling its purpose of setting students free from burden was caused by various factors.Scammers have been taking advantage of the students' vulnerability and the Department of Education's inability to quickly disseminate the information to the beneficiaries of the said favor.
People introducing themselves as representatives of the Department of Education and even President Obama approached some students from Corinthian College, an institution collapsed-for profit and found guilty of fraud.
These strangers would discuss to them the Education Department's loan forgiveness program. They would make their victims fill up some form and collect some amount of money in exchange for the processing of the students' request.
The transaction ends up with the student waiting and the stranger completely disappearing.These experiences develop student confusion and mistrust over the government's program.
Noah Zinner, a consumer law firm, Housing and Economic Rights Advocates, managing attorney stated that the best way to make students believe and respond to the program is to inform them using the same people who had been aggressively collecting their loan payments in the past, Buzz Feed News reported.
Pauline Abernathy, the advocacy group Institute for College Access and Success vice president believes that it is a part of these collectors and servicers' jobs to not just collect payments but to inform borrowers about their rights and benefits as discussed in Student Debt Relief.
The Department of Education, however responded that they have been reaching out to the students through email which apparently did not make its way to most of them as there still are a lot of them who may not be using emails regularly.
Watch this video to know more on how to avail the student loan relief program.
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