You’ve probably seen ads for companies that can help you lower – or even totally get rid of – your student loan debt. Some of those companies just take your money and do nothing for you.
The FTC recently filed a lawsuit against SLAC, Navloan, and Student Loan Assistance Center, three companies that ran an illegal student loan debt relief scheme. These companies claimed that they could permanently reduce monthly student loan payments and get partial loan forgiveness by enrolling people in legitimate government Income Driven Repayment (IDR) plans.