Student loan debt is a major problem facing millions of Americans, and debt settlement companies know that. That’s why they are all over the internet spamming young people about so-called student loan forgiveness programs.

One of their favorite tricks is pretending that they are offering a new program created by President Obama. The problem is that these companies are really just slinging questionable debt settlement services at a high price.

While it is true that President Obama has called on the Department of Education and other involved agencies to look into ways of making repaying student loans more manageable, no new program has been created as of yet.

So what are these debt settlement companies actually offering? Typically, they charge people money to get enrolled in repayment or consolidation services that they would be able to enroll in for free by themselves through their loan providers, USA TODAY reports.

The problem is that many young people with student loans aren’t aware of their consolidation and repayment options, so they turn to predatory debt settlement companies for help. Unfortunately, paying for a service that they are entitled to for free only makes their financial situation worse.

Before falling for one of those misleading ads promising you help with your student loan debt, learn more about your repayment plan and consolidation options by visiting at StudentLoans.gov. If you end up needing further assistance from a debt relief professional, only work with a company that you can trust.

For example, bankruptcy law firms are regulated by the state bar and can be trusted for all of your debt negotiation and settlement needs.