Saturday, September 18 2021
Students or borrowers who receive an email, letter or call about student loan debt forgiveness are advised to pause before sending or confirming any personal information.
Officials said you can take the following precautions to avoid becoming a victim:
- Be skeptical. Scammers often obtain student loan information illegally. Just because someone has information about your loans doesn’t mean they should be trusted.
- Research the company. Check the validity of the company contacting you, as many companies run by scammers do not actually exist.
- Do your due diligence. Check what program is being offered to you. Some scams offer to enroll you in programs like the “CARES Act loan forgiveness” or the “Biden forgiveness program,” which don’t exist.
- Verify the email address. Ensure that emails being sent to you about your student loans are from a .gov email address.
- Be aware of what legitimate programs will and won’t ask you for. Proceed with caution before sharing any of your sensitive or financial information like a Social Security Number or credit and bank information. If in doubt, hang up and call your servicer directly.