The Latest Resource on Avoiding Student Loan Scams

It is sad to see how students without much or no income can become a target of scams but that's the hard reality of today's world.  For these scammers, students in financial needs are appealing and vulnerable targets.

We have compiled the latest resources and tips to help students seeking financial aid for their high education needs.

The redesigned website of U.S. Department of Education has a collection of articles and links on this vary topic.  This should be the first place to get the latest scoop on what's going on out there and what to do when you encounter a problem.

Link, Federal Student Aid - U.S. Department of Education

Here is a great publication (book) on the topic.  It's titled, "The Student Loan Scam: The Most Oppressive Debt in U.S. History and How We can Fight Back

For those you have already drawn student loan and having a difficulty paying in back, watch out for that notorious "Debt Consolidation" scam.  It's the same type of fraud that was on  the rise during the last financial down turn, and now these bad boys are targeting the young adults.

More often times than not these so called debt consolidation service does not benefit the consumers as they tag on lots of fees in the process.   If you have federal loans, it is strongly recommended for you to check federal government's own programs before turning onto private companies.  The program offered by U.S. Department of Education offers the best repayment plans.

According the the experts, students loan debt consolidation service is ripe for fraud as the scammers are taking advantage of young adults' need for student loans.  For the students who have a loan from a private lender, always check directly with your lender first.  Often times, they do offer different options for repayment without adding excessive fees.

Remember the same rule when approaching lenders, "if it sounds too good to be true, it probably isn't".