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#4547026 - 10/18/17 10:15 AM Student Loan Scams
MolaKule Offline


Registered: 06/05/02
Posts: 18943
Loc: Iowegia - USA
Office of Financial Aid: Student Loan Scam Calls
Borrowers have reported receiving phone calls, emails, letters, and/or texts offering them relief from their federal student loans, telling them to consolidate and/or warning them that student loan forgiveness programs would end soon. Usually, the so-called student loan debt relief companies offering these types of services don’t offer any relief at all. Often they’re just fraudsters who are after your money. Beware, you never have to pay for help with student loans. Make sure you understand which companies and claims are legitimate.


https://studentaid.ed.gov/sa/repay-loans/avoiding-loan-scams
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#4547029 - 10/18/17 10:18 AM Re: Student Loan Scams [Re: MolaKule]
Mr Nice Offline


Registered: 09/12/04
Posts: 20908
Loc: Orlando, FL
Similar scam to the Mortgage Aid during the housing bubble.


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#4547037 - 10/18/17 10:22 AM Re: Student Loan Scams [Re: MolaKule]
JHZR2 Offline



Registered: 12/14/02
Posts: 41406
Loc: New Jersey
The scam is letting people borrow that much money for worthless majors that can't pan out.

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#4547045 - 10/18/17 10:41 AM Re: Student Loan Scams [Re: JHZR2]
stockrex Offline


Registered: 01/08/06
Posts: 2433
Loc: Michigan
Originally Posted By: JHZR2
The scam is letting people borrow that much money for worthless majors that can't pan out.


The scammers are the so called colleges who keep taking the $$$ from these poor folks.

Last few months I was pleasantly surprised to meet females in the 20s who avoided college and went to for welding other non-traditional trades.
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#4547048 - 10/18/17 10:43 AM Re: Student Loan Scams [Re: JHZR2]
Alfred_B Offline


Registered: 05/12/15
Posts: 1959
Loc: America
Originally Posted By: JHZR2
The scam is letting people borrow that much money for worthless majors that can't pan out.


The scam is our lawmakers who designed a system like that because the banks funded their election campaigns.

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#4547147 - 10/18/17 12:23 PM Re: Student Loan Scams [Re: MolaKule]
Mr Nice Offline


Registered: 09/12/04
Posts: 20908
Loc: Orlando, FL
Education field is no different than Walmart,.... they are in business to offer a service (some highly questionable degree majors) and to turn a profit.

I don't feel sorry for idiots with a Mickey Mouse degree and complain they have no job prospects.

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#4547157 - 10/18/17 12:29 PM Re: Student Loan Scams [Re: Mr Nice]
SatinSilver Offline


Registered: 01/24/08
Posts: 9745
Loc: OH
Originally Posted By: Mr Nice
I don't feel sorry for idiots with a Mickey Mouse degree and complain they have no job prospects.


What's worse is someone with a law degree that uses that to become a blood sucking attorney that bills their clients $500/hour. No wonder no one likes them. smile
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#4547165 - 10/18/17 12:35 PM Re: Student Loan Scams [Re: SatinSilver]
Wolf359 Online   content


Registered: 04/27/12
Posts: 4470
Loc: MA
Originally Posted By: SatinSilver
Originally Posted By: Mr Nice
I don't feel sorry for idiots with a Mickey Mouse degree and complain they have no job prospects.


What's worse is someone with a law degree that uses that to become a blood sucking attorney that bills their clients $500/hour. No wonder no one likes them. smile


I used to work in a large law firm years ago. The first year attorneys used to bill out at around $200+ an hour, but the partners were up to 1000+ per hour. Most of those clients were corporate though so they were happy to pay it. It's probably even higher now.

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#4547188 - 10/18/17 12:52 PM Re: Student Loan Scams [Re: MolaKule]
Mr Nice Offline


Registered: 09/12/04
Posts: 20908
Loc: Orlando, FL
My sister bills $500 an hour as a lawyer, $450 if she feels sorry for client...

Not everyone that becomes a lawyer will make big money. Lots of idiot law grads now trying to sue their school and feel taken advantage of with false claims of 'starting wages' of their law grads.

Tons of kids dreamed of big $$$$ and now only have a piece of paper to show for. My sister does hire new law grads at $30 an hour, for 20 hours a week. She definitely runs them like rented mules and they don't last 6 months working for her.


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#4547197 - 10/18/17 12:58 PM Re: Student Loan Scams [Re: Mr Nice]
SatinSilver Offline


Registered: 01/24/08
Posts: 9745
Loc: OH
Originally Posted By: Mr Nice
She definitely runs them like rented mules and they don't last 6 months working for her.


Sounds like a real sweet heart. I bet she doesn't get much business unless she's dealing with drug dealers and other types of criminals.


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#4547246 - 10/18/17 01:47 PM Re: Student Loan Scams [Re: MolaKule]
Nick1994 Offline


Registered: 02/19/13
Posts: 9817
Loc: Phoenix, AZ
I get those scam calls all the time at work on my desk phone. I just laugh and hang up.
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#4547249 - 10/18/17 01:53 PM Re: Student Loan Scams [Re: Alfred_B]
pbm Offline


Registered: 04/19/04
Posts: 7480
Loc: New York
Originally Posted By: Alfred_B
Originally Posted By: JHZR2
The scam is letting people borrow that much money for worthless majors that can't pan out.


The scam is our lawmakers who designed a system like that because the banks funded their election campaigns.



Do you notice how tuitions keep going up as the government GUARANTEES the loans.....the government is now doing the same thing to health care....

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#4547307 - 10/18/17 03:08 PM Re: Student Loan Scams [Re: pbm]
28oz Offline


Registered: 04/20/17
Posts: 295
Loc: Utah, USA
Yep. The costs will always rise to match the money that's available.
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#4547318 - 10/18/17 03:23 PM Re: Student Loan Scams [Re: MolaKule]
Alfred_B Offline


Registered: 05/12/15
Posts: 1959
Loc: America
How else do you think they can afford to build those football stadiums and pay millions to the football coaches while the professors eke by on food stamps.

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#4547344 - 10/18/17 03:47 PM Re: Student Loan Scams [Re: Alfred_B]
kschachn Offline


Registered: 12/26/05
Posts: 9108
Loc: Upper Midwest
Originally Posted By: Alfred_B
How else do you think they can afford to build those football stadiums and pay millions to the football coaches while the professors eke by on food stamps.

Gee that's one I haven't heard them whining about yet, at least not here in Wisconsin. It's a good one so I wonder how it got missed?

I'll have to send that in so they can add it to their repertoire come budget time.
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