Is a call about my student loan from a company I don't recognise a scam?
Likely yes. Student loan servicers are assigned by your loan authority — calls from unknown companies claiming to manage or refinance your student debt are often fraud.
Last reviewed: 1 June 2026
Explanation
Student loan scams take several forms: companies charge upfront fees to enrol you in income-driven repayment plans that are free through your loan servicer; they offer fake loan forgiveness schemes; or they harvest your personal details and FSA login credentials to redirect your correspondence and interfere with your account. In the US, the Department of Education assigns loan servicers — your loan servicer communicates with you through your official loan account and by letter. You should never pay a third party to access repayment programmes or forgiveness schemes that are administered by the government at no cost.
Common red flags
- Promises of immediate loan forgiveness or dramatic balance reduction
- Requests your FSA ID, login credentials, or Social Security number
- Upfront fee to access government repayment programmes
- Company is not your official loan servicer assigned by the loan authority
What to do now
- Do not provide credentials or fees to unsolicited callers
- Log into your official student loan account directly to check your servicer
- Contact your official servicer for free help with repayment options
- Report fraudulent student loan companies to the CFPB (US) or relevant national authority
Frequently asked questions
Are there legitimate student loan refinancing companies?
Yes — regulated lenders offer refinancing. The key difference is they contact you after you inquire, do not charge upfront fees, and never ask for government portal credentials.