Dozens of companies charge high fees and claim to help borrowers reduce or eliminate student loan debt. You may be dealing with one, but you're not stuck. You can end contact with such companies and apply to federal student loan programs for free through U.S. Department of Education websites.
While not all companies that collect fees in exchange for student loan help are scams, more than 130 businesses have histories that give consumers reason to be wary, a NerdWallet public records investigation found. Those track records include penalties, investigations, lawsuits from federal and state authorities, private lawsuits and poor ratings from the Better Business Bureau.
Unsure if you're dealing with a fraudulent student loan company? The NerdWallet Student Loan Watch List is a good place to start. Here's what to do if you're involved with a misleading student loan relief company.