How to avoid student loan forgiveness scams

Published: Sep. 7, 2022 at 4:57 AM PDT
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RENO, Nev. (KOLO) - There has been a Consumer Alert put out by the Federal Trade Commission. Those seeking student loan forgiveness need to be aware of scams. The Better Business Bureau has some advice so you don’t become a victim.

From phone calls, e-mails, and text messages, the BBB says with every government program that aims to help comes this risk.

Government programs are free to sign up for and if there are fees, that’s a red flag. You’ll want to fully understand the terms of your student loan and relief program. Double check the website you are on is legitimate, imposter websites are out there.

Britta Clark from BBB gave us some examples of what a scammer may sound like,

“They are of course going to say things like ‘Can we get your name and social security number?’ or they might ask for a credit card number. They might even say ‘If you pay this $500 fee then we will make sure we can get you that student loan money back sooner rather than later.’ They will say anything they can to get you thinking they’re from the government,” Clark said

If something looks suspicious, reach out to the government agency directly. It’s also recommended to open a new web browser and search for the website yourself.

You should be on government-issued websites like ed.gov or studentaid.gov.

For more tips to avoid being scammed, click here.