3. You’re asked to provide your FSA ID password. No! Never give out your password. You wouldn’t give out your Twitter password, or your banking password, would you? The same common sense applies here, too. Neither the Education Department, nor a loan servicer would ever ask for your passwords. Your FSA ID is used to sign binding documents electronically. It has the same legal status as a written signature. If the person on the other end of the phone has that information, they can sign for anything using your name!
