A Warning for Kilgore College Students

KILGORE – Kilgore College is warning students to be leery of a rash of social media advertisements that appear to offer an option to “remove all student loans” and promising loan forgiveness. Loan rescue organizations promise assistance to arrange federal student loan forgiveness in exchange for a fee. The college tells students, it is important to know that companies cannot do anything that a student’s federal student loan servicer cannot do free. And the college tells them, under no circumstances should students give their federal student aid IDs to loan rescue companies.

According to a news release from the college, rescue companies around the country often go by names that imply they are government agencies or nonprofit organizations. KC asks students to think twice before giving out any personal information to these companies. Borrowers seeking to lower their monthly payments, postpone repayment or apply for loan forgiveness should contact their federal student loan servicers directly. And they add that direct solicitations by email, regular mail, phone calls or text messages for payment in advance or guarantees of loan forgiveness are warning signs that companies might not be legitimate.