JACKSONVILLE, Fla. – Student loans will start accruing interest again Friday after a three-year pause.
This is the first step toward resuming student loan payments next month. Borrowers will be charged the same interest rate they were paying before March 2020.
You can see your balance and interest rates through your loan servicer. If you don’t know your servicer, you can find the information through the Federal Student Aid Office.
The Better Business Bureau is warning about a new scam. It received a slew of reports from borrowers who say they were contacted by a person offering to reduce their loans or change their repayment plan.
That’s the first red flag. No company can wipe your loan balance. The offer may come in an email or text message. Don’t respond.
If you do, the scammer will likely try to get your Social Security number and other sensitive information.
Never trust unsolicited calls, texts or emails. Many of them are scammers phishing for your information.
If you are ever unsure about an offer, contact the company or agency directly.
The only way to change your repayment plan is to contact your loan servicer.
You can find information about all of the plans here.