AdvertiseMint

Grow your business with Facebook, Instagram & TikTok advertising. Let's talk 844-236-4686.

  • Home
  • Services
    • Facebook Advertising Agency
    • Advertising Agency for Amazon
    • TikTok Advertising Agency
    • Google Ads Advertising Agency
    • Instagram Advertising Agency
    • Snapchat Advertising Agency
    • LinkedIn Advertising Agency
    • Spotify Advertising Agency
    • Pinterest Advertising Agency
    • YouTube Advertising Agency
  • Pricing
  • Blog
  • About
  • Contact
  • 844-236-4686
  • Get Started
You are here: Home / Facebook / Facebook Updates Ad Policy for Student Loans

December 6, 2016

Facebook Updates Ad Policy for Student Loans

facebook-updates-ad-policy-for-student-loans

On November 29, Facebook updated its ad policy to prevent debt forgiveness scams from advertising on its platform. In a product update email, Facebook announced that, in an effort to prevent misleading and deceptive ad experiences, it has amended its student loans ad policy. Under prohibited content of Facebook’s ad policy, it states:

“Payday loans, paycheck advances or any other short-term loan intended to cover someone’s expenses until their next payday [are prohibited].”

Facebook defines misleading student loan ads as ads that promote its ability to consolidate multiple student loans, to refinance a student loan, or to forgive a student loan balance by exaggerating benefits. Misleading loan ads also do not disclose full terms and use shocking language. Facebook ads management service providers should note to avoid those terms.

Students with student loans or individuals with significant credit card debt must be wary of debt relief scams by operators who falsely promise to negotiate with their clients’ creditors to settle or reduce repayment obligations. These scammers often charge a large start-up fee but fail to settle or lower their clients’ debts as promised. Sometimes, they do not provide any service at all. These debt relief scams avoid their clients by using automated messages to clients on their do-not-call list.

Federal Student Aid’s Facebook page warns against online loan relief ads, telling students to “walk away.” According to FSA, some companies charge a $999 start-up fee or $39 each month. Meanwhile, FSA offers its services for free.

In 2010, the FTC (Federal Trade Commission) revised its telemarketing Sales Rule to protect individuals with debt from the predatory actions of debt relief scammers. The rule forbids for-profit companies from charging a start-up fee before settling or reducing their clients’ debt. It also requires them to disclose key information for clients to evaluate before accepting their services.

By amending its student loans ad policy, Facebook takes a stand against debt relief scammers. For more information on Facebook’s ad policies, visit Facebook’s ad policy page.

Comments

comments

Article by Anne Felicitas / Facebook

About Anne Felicitas

Possessing five years of digital writing experience, Anne Felicitas is the blog editor of AdvertiseMint, a Facebook advertising agency that specializes in Facebook and Instagram ad management. Anne writes content and oversees a team of freelance writers and contributors, ensuring the AdvertiseMint blog regularly produces both short- and long-form content related to social media, marketing, and advertising.

Complete Guide to Facebook Targeting

Download our FREE Facebook guide with over 850 ad targeting options.

  • This field is for validation purposes and should be left unchanged.

Speak with an Advertising Specialist

Want to learn more about what advertising platforms are best for growing your business.

Schedule a FREE call with our experts. 

Ad Targeting Infographics

  • Amazon DSP Ad Targeting
  • Facebook Ad Targeting 
  • Hidden Facebook Ad Targeting
  • LinkedIn Ad Targeting
  • Snapchat Ad Targeting
  • Digital Ad Platform Policies
Hear the Audiobook FREE on Audible

Browse by Platform

  • Facebook
  • TikTok
  • Instagram
  • Twitter
  • YouTube
  • LinkedIn
  • Snapchat
  • Pinterest
  • Amazon
  • Google

Popular Articles

(Updated 2021) How to View What Your Facebook Profile Looks Like to Others

How to Make Money on TikTok

New Instagram Sorting Feature Shows Who Appears on Your Feed the Most

12 Ways to Become TikTok Famous

Here’s Where Instagram Keeps All the Posts You Liked

How to Hide Your Facebook Post from a Specific Person

Instagram’s Warning Notification Gives At-Risk Accounts a Second Chance

6 Important Marketing Theories and How to Apply Them on Social Media Campaigns

35 Banned and Restricted Products You Can’t Advertise on Facebook

The Best Time to Post on TikTok, According to Data

AdvertiseMint

  • Home
  • About
  • Careers
  • Blog
  • Definitions
  • Programs
  • FAQ
  • Press
  • Phishing Scam
  • Sitemap

NEWSLETTER

Get expert insights and latest news in digital advertising every week

NEWSLETTER

Certifications



advertisemint google partner     

7080 Hollywood Blvd, Hollywood, CA 90028       |       844-236-4686

Facebook Advertising | Instagram Advertising | Google Advertising | Amazon Advertising | Pinterest Advertising | Tiktok Advertising
Terms and Conditions | Privacy Policy | Cookie Policy
© 2021 AdvertiseMint All Rights Reserved.