Borrowers Should Ignore Incorrect TikTok Content on How to Erase your Student Loan Debt

False TikTok Claims About "Deleting" Student Loans

The Washington State Department of Financial Institutions (DFI) is aware of several viral TikTok videos allegedly providing advice to student loan borrowers on how to erase their student loan debt.

One video instructs student loan borrowers to file a dispute with the credit bureaus to have their student loan accounts "deleted" from their credit report. The video implies that by filing a dispute a student loan borrower no longer has to pay back their student loan.

Why This Information Is Wrong

This is incorrect information. While filing a dispute with the credit bureaus may temporarily increase your credit score, it will not make your student loan debt go away. You are still responsible for repaying your student loan to the lender. Failing to pay your student loans has serious consequences, including but not limited to, incurring fees, being sent to collections, having your wages garnished, or being subjected to legal action.

Another False Claim Involving DOGE

Another video claims that student loan borrowers can file a complaint alleging the Department of Government Efficiency (DOGE) violated their privacy rights under the Family Educational Rights and Privacy Act (FERPA) by accessing their student loan data. Like other videos, it is implied that a borrower would no longer have to pay back their student loan.

This is also incorrect information. While the Department of Education (DOE) has authority to investigate alleged violations of FERPA, cancellation of your student loans is not an available remedy.

If It Sounds Too Goo To Be True, It Probably Is

Remember to be careful when it comes to financial advice. If it sounds too good to be true, it probably is.

Additional Resources

If you are struggling to make your student loan payments, contact your student loan servicer for available repayment options. If you do not know who your student loan servicer is, you can find out by logging into your Federal Student Aid account at Log In Federal Student Aid or by calling the Federal Student Aid Information Center (FSAIC) at 1-800-433-3243.

The FSA and your student loan servicer have the most up to date information regarding your student loans. Below is a list of additional student loan resources that may be of assistance.

Student Loan Information from DFI
Washington Student Achievement Council
Student Loans - (consumeradvocates.org)
Student loans - Consumer Financial Protection Bureau

If you have additional questions or need to file a complaint, please contact DFI's Consumer Services Division at (360) 902-8703.