Is Alumni Solutions Scam [update 2021] Read About The Scam!

Alumni Solutions is a company that offers student loan forgiveness services. Is this company legit? Is Alumni Solutions a scam? Read the article below to learn more about scams and how they work.

Since the financial crisis in 2008, over $1.7 trillion dollars has been added to the student loan debt and it is continuing to rise at an alarming rate.

The issue of student loan debt is a serious one and it needs considerable attention from financial companies.

Is Alumni Solutions a scam? I’ve been trying to pay back my student loan for a couple of years now.

I didn’t have much luck until recently. I stumbled upon a program that said they would help me get out of debt faster through forgiveness programs. The company name is Alumni Solutions- which is where I’m confused.

They don’t provide any solutions to my problems at all. In fact, they have made things worse by taking me for more money and keeping all the documents I gave them as part of their payment plan.”

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What are Alumni Solutions?

Alumni Solutions, Inc. is a company that promises to help graduates of participating colleges and universities with their student loans. But it’s not a government program. In fact, the company charges borrowers fees that may be deducted from loan payments or added to principal balances. Some borrowers have complained that they signed up for services under the impression they were getting a government grant or a loan forbearance, only to learn later they had been enrolled in a company’s debt management plan.

The Better Business Bureau gives Alumni Solutions an “F” rating based on more than 2,000 complaints from consumers about the company. Of those complaints, more than 1,500 report difficulties canceling membership.

A common complaint concerns the timing of deductions from borrower accounts. The company issues warning letters prior to taking money from borrowers’ accounts but then makes those deductions without giving notice — sometimes on dates that fall on weekends or holidays.

Alumni solutions provide a platform to help college students who have taken funds from different sources in order to fulfill their education requirements. The need for these programs has increased with the student loans and the inability of the students to pay off in time.

Student loans can be taken in many forms and there are many companies that offer student loans. There can be big or small amounts but they all need to be paid back on the set date. The repayment is done according to a budget given by the company, which can be followed strictly. But, if someone fails to do so on time, there are interest rates attached to it, which make it difficult for someone to pay off their loans.

In the following section, we’ll examine its legality. Let’s take a look at some of the different ways that government alleviates poverty:

• The consolidation of federal student loans is possible as a result of this legislation.
• Alumni may cut their monthly payments, reducing the strain on themselves.
• Students may apply for a loan forgiveness program, and if they meet the requirements, it might be waived for them.
• It may assist those who have defaulted on loan repayments to get them off the list.

Is Alumni Solutions Scam?

Alumni Solutions may not be a scam but at one point I would have thought it was before I had enough clout in the financial industry to find out what it does.”Scam” is a word with different connotations. Everybody has heard of Ponzi schemes or get-rich-quick pyramid schemes where people are motivated by greed and get others to invest with them so they can reach out to higher heights. But scams have other dimensions too… For example, if someone advertises something as being free when there really isn’t any such thing you could call it a scam.

Alumni Solutions Loan Forgiveness Scam: About the Incident

Many people received a voicemail message from a woman named Britney Price, who said she was an agent at “Alumni Assist Group” and called from phone number 629-209-6845.

In a voicemail, Britney claimed that she works for some loan forgiveness programs for students. So, if a student calls her back, she would help them in the “student forgiveness program.” The eye-catchy thing here is that she hails from the same company that I have been talking about in Is Alumni Solutions Scam?

She claimed to be an agent of “Alumni Assist Group.” The message said, “We are working with your lender and we will work out a solution for you. For more information please call us back at our toll-free number…” This is the same number that I mentioned in Is Alumni Solutions Scam?

So, Is Alumni Solutions Scam? is it legal or not and why do people call them a scam?? Well to answer these questions let’s look into the incident where they were sued by FTC for $700 million. Is this enough proof of their wrong-doings? Is “Alumni Assist Group” really a scam? Is Alumni Solutions Scam??

Voicemail Transcript

Britney Price, calling from alumni solutions, assistance group with agent number 1769, left a message for you at the number you provided.

We’re phoning to let you know that you can still take part in the forgiveness program, but there are only a few openings left, so please respond as quickly as possible to finalize the details. And don’t miss out on this opportunity.

Similarly, many people received the same message from different names and different email addresses multiple times. If you received it too, do not take action on the message right away. It is 100% a scam message.

How This Scheme Work

The scheme will forgive the remaining balances of the federal loans of students who have already paid at least 10% of their overall debt. These are the loans that are used for the students who are pursuing higher studies in various fields to become professionals.

Here are some of the FAQs that are being asked by the applicants about the loan forgiveness scheme:

What are the eligibility criteria for this scheme?

To be eligible, the applicant should have a balance on Direct Loans which is equal to or less than $60,000. The applicant should have completed their repayment term under this scheme.

Once you complete your repayment term, what happens next?

The next step includes submitting all your documents and information to the relevant department. If you have not submitted any information regarding this scheme before, then you can get it directly from your loan provider.

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How long will it take to process my application?

It may take up to 6-8 weeks to get your application processed. You can even get updates regarding this scheme from the co-signer and loan providers. This is an effortless process and makes everything simple and easy for you. You can track your application with NSLDS and you’ll know exactly where it is and how far it has come in processing and approving your request.