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BBB warning of possible scams after Navient settlement

better business bureau bbb
Posted at 6:13 PM, Jan 25, 2022

INDIANAPOLIS — Navient, one of the largest student loan processors in the U.S., recently reached a settlementthat will cancel $1.7 billion of debt from 66,000 borrowers.

Now, the Better Business Bureau is warning that scammers may try to use the settlement to access your information.

Federal loan borrowers who qualify for relief under this settlement do not need to take any action except update or create their studentaid.gov account.

The BBB encourages graduates to carefully research trustworthy sources related to federal repayment plans before giving any information.

You can visit BBB.org to read business profiles and check out companies before working with them. The FTC has consumer education related to student loan debt relief scams at ftc.gov.

Jennifer Adamany with the Better Business Bureau Serving Central Indiana explains.

Watch the video in the player above to learn more.