Despite the fact that the talons of debt may be raking up millions of dollars, it is not uncommon for students to borrow a fair amount of money. Thankfully, the government provides debt relief to alumni, which includes loan forgiveness programs. In fact, the federal government has put a moratorium on student loan repayment until September 30, 2021. That means that borrowers who are already struggling may have to rely on the services of private companies to get out of the hole. But while some companies can be a blessing in disguise, others can be a scammer’s delight.
There are numerous companies that claim to provide the best student loan relief services, including the aptly named Alumni Solutions. However, despite the name, this company does not actually exist. The head office of Alumni Solutions is located in Deopur, Dhule, India. The company provides intelligence-based products and services, but does not offer the services themselves.
The best way to avoid becoming a victim of the alumni solutions scam is to be aware of their ilk. Oftentimes, these firms use aliases or spoof names. If you get the wrong name, you could end up paying a lot for a service that is not worth the price. It also helps to have a good ol’ fashioned list of companies that you trust. A good financial aid office should be able to provide a comprehensive list of reputable agencies. Oftentimes, the only way to ensure that you do not end up in a similar predicament is to contact the appropriate authorities and let them do the legwork for you.
While you are in the process of investigating whether Alumni Solutions is the right fit for you, be sure to check out their competitors, as well. These companies aren’t as reputable as their counterparts, but they have the same neophyte mindset. While they may not have the resources to counsel all loan challenges, they will be more than happy to recommend the services of a trusted third-party. A student loan consolidation may be the answer to your financial prayers. While this might seem like a daunting task, it could be the ticket to a debt-free life. A consolidation loan allows you to lower monthly payments and reduce your burden of debt.
If you are still skeptical, check out the Better Business Bureau’s website for more information about alumni solutions. You will also find an unbiased list of companies that can be a godsend to student loan holders. The nitty gritty may not be all that pretty, but with a little homework, you should be able to find a company that will help you get out of debt.