Consumer adviser Clark Howard warns that promises of student loan debt forgiveness are likely scams.
Millions of Americans overwhelmed by student loan debt are targeted by scammers pretending to offer debt relief.
“Student loans cannot easily and in virtually no circumstance be forgiven unless you qualify under one of the loan forgiveness programs,” said Clark Howard.
Howard emphasizes that legitimate loan forgiveness programs require payments for a minimum of 10 years to as many as 25 years.
He advises those struggling with student loans to contact their lenders directly to work out a payment plan.
Howard cautions against believing anyone who claims they can magically erase debts.
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