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KnowBe4: 3 Red Flags of Student Loan Debt Relief Scams

KnowBe4
07/07/2026
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You don't need to add thousands of dollars from a scam on top of them. I'm Ben Sinn, the Director of University and Career Education at KnowBe4. And right now, ads from predatory scam companies offering debt relief services for federal student loans are more rampant than ever. Watch for these red flags. One, they ask for monthly fees or an upfront payment. You should never have to pay for assistance with your federal student loans. Two, they promise immediate total forgiveness. While it can be possible to negotiate better loan terms if you are in default, no outside company can magically erase your debt. And three, they ask for your FSA ID and password. You should never share this info with any third-party company. Keep your future bright and secure. Follow KnowBe4 for more ways to stay safe online.

TL;DR

  • Scam companies offering federal student loan debt relief are increasingly common — knowing the warning signs can prevent significant financial harm.
  • Legitimate federal student loan assistance is always free — any company charging monthly fees or upfront payments is a scam.
  • No third-party company can guarantee immediate or total loan forgiveness, and any that claim otherwise should be avoided immediately.

Summary

In this short-form awareness tip, KnowBe4's Ben Sinn, Director of University and Career Education, warns borrowers about the surge in predatory scam companies targeting federal student loan holders with fraudulent debt relief offers. The video identifies three concrete red flags every borrower should recognize: being asked to pay monthly fees or an upfront payment (legitimate federal loan assistance is always free), receiving promises of immediate or total loan forgiveness (no third-party company can legally erase federal debt), and being asked to hand over your FSA ID and password (a credential that should never be shared with any outside organization). With student loan scams growing more prevalent, this quick reminder equips viewers with the minimum knowledge needed to protect their financial identity and avoid compounding an already costly burden with unnecessary fraud losses.

Chapters

0:00 - Introduction & Context
0:13 - Red Flag #1: Fees
0:21 - Red Flag #2: Forgiveness Promises
0:30 - Red Flag #3: FSA Credentials

Key Quotes

0:01 "You don't need to add thousands of dollars from a scam on top of them."
0:21 "They promise immediate total forgiveness. While it can be possible to negotiate better loan terms if you are in default, no outside company can magically erase your debt."
0:32 "You should never share this info with any third-party company."

FAQ

How can I tell if a student loan debt relief company is a scam?

Watch for three key red flags: they charge monthly or upfront fees, they promise immediate total forgiveness, or they ask for your FSA ID and password. Legitimate federal loan assistance is always free and never requires sharing your login credentials.


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