You may have been the victim of a student loan scam. Here are five warning signs to watch for.
1. The loan is excessively high-cost.
This may be a sign that the loan is not a legitimate one. If a loan seems too expensive, it may be a sign that the company is not reputable.
2. The company demands unusually high interest rates.
If the company is asking for extraordinarily high interest rates, it may be a sign that it is not a legitimate one. Interest rates should be based on the risk of the loan, not on the company’s desire to make a profit.
3. The company asks for money upfront.
If a company is asking for money upfront, it may be a sign that it is not a legitimate one.
4. The company has a low rating on the Better Business Bureau.
If a company has a low rating on the Better Business Bureau, it may be a sign that the company is not a reputable one. If a company is reputable, it should have a high rating on the Better Business Bureau.
5. The company has been known to scam other customers before.
If a company has been known to scam other customers before, it may be a sign that the company is not a reputable one. If a company is reputable, it should be known for its quality, not its ability to scam other customers.
