|
|
As the federal student loan grace period has now ended, the New York Department of State’s Division of Consumer Protection is warning student loan borrowers to avoid scams and negative financial and credit reporting consequences while navigating the loan repayment process. Any late or missed federal student loan payments can now be reported to the credit bureaus, which can lead to severe negative consequences for borrowers who are unable to make payments. Federal student loan borrowers having difficulty making payments will need to take important steps to avoid these negative financial or credit reporting consequences. Borrowers should also be aware of potential scammers who may take advantage of consumers who are seeking assistance with repayment.
|
|
About the NYS Department of State Division of Consumer Protection
The New York State Division of Consumer Protection provides resources and educational materials to consumers and voluntary mediation services between consumers and businesses.
The Consumer Assistance Helpline 1-800-697-1220 is available Monday to Friday from 8:30 am to 4:30 pm, excluding State Holidays, and consumer complaints can be filed at any time at www.dos.ny.gov/consumer-protection.
Follow the NYS Department of State Division of Consumer Protection on Facebook, Twitter, and Instagram for other consumer protection tips and consumer alerts.
|
|
|
|
