Be extremely wary of anyone who promises total loan forgiveness or assures fast loan forgiveness.

GREENSBORO, N.C. — The pandemic has caused a lot of confusion including with student loan policies and the possibility of debt forgiveness. NC Attorney General Josh Stein said criminals are taking advantage by using your confusion and stress to try to trick you into falling for student loan scams. He joined us on 2 Wants to Know to share some tips to avoid common scams.

First, always be skeptical. Remember, if it sounds too good to be true, it almost always is. Be extremely wary of anyone who promises total loan forgiveness or assures fast loan forgiveness. Most loan forgiveness programs are conditional on a certain amount of repayment or a certain number of years working in your chosen field, and you should talk with your loan servicer directly to understand your options.

Also, beware of anyone charging an upfront fee to assist you with student loan debt. Under North Carolina law, it’s illegal for anyone to charge an upfront fee to modify borrowers’ debts. You do not have to pay anyone to receive student loan debt relief assistance. Instead, go to the U.S. Department of Education’s website, www.studentaid.gov, to learn how to contact your servicer to modify your loans.

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