Home Loan Scams Student-Loan Relief Notices Have ‘Grammatical Errors,’ Look Like Scam: GAO
- When a school shuts down, student-loan borrowers are often entitled to debt forgiveness.
- But a new GAO report found issues with communicating that relief to borrowers.
- For example, notices of discharges have had grammatical errors, appearing like a scam.
When a school shuts its doors, the students who took out loans are often entitled to get that debt erased. But poorly-written notices from loan companies might make borrowers think that relief is a scam.
On Wednesday, the Government Accountability Office (GAO) released a report analyzing closed-school discharges, or debt relief following a school closure for borrowers who do not complete their education elsewhere. It found a host of issues with actually letting the borrower know they could get their dept wiped…
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