Avoiding Student Loan Forgiveness Scams

Scammers have not wasted any time, following news about the plan to cancel some federal student loan debt.Bbb

We talked with the Better Business Bureau about how to avoid student loan forgiveness scams:

  • Only communicate with the Department of Education directly. If you receive a message from someone claiming to be from the government, verify by contacting the government agency. For details on the student loan forgiveness program, visit ED.gov or StudentAid.gov.
  • Never pay fees for a free government program. Government agencies will never ask you to pay a fee to benefit from a free government program. Don’t let scammers persuade you otherwise. 
  • Think twice about unsolicited calls, emails, or text messages. Government  agencies rarely reach out to you unless you request to be contacted. Out-of-the-blue communications are a red flag.
  • Don’t give in to scare tactics. If someone claims you’ll miss out if you don’t act immediately, be wary. This is an all-too-common tactic scammers use on their victims. Instead of responding, stop communications until you can verify what they say is true.

For more information:

  • For information on federal student loan repayment options, visit the official government website, StudentAid.gov.
  • Learn more about student loan forgiveness scams here.
  • You can also read up on government impostor scams in this BBB study and learn how to spot a scam.
  • If you spot a student loan forgiveness scam, report it to BBB.org/ScamTracker to  help other consumers spot the scam faster.
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