CHARLOTTE, N.C. — N.C. Attorney General Josh Stein issued a warning to student loan borrowers on Thursday not to fall for any scams as confusion grows over COVID-19 student loan policies.
Stein says since the pandemic has disrupted almost three academic years for students, it’s not surprising that there is a lot of confusion over student loan policies and the possibility of debt forgiveness.
Stein warns student loan borrowers that during this stressful time, criminals may attempt to use their confusion and stress to try and trick them into falling for student loan scams.
Stein provides the following tips below to avoid common scams:
- Be skeptical.
- Remember, if it sounds too good to be true, it almost always is.
- Be 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.
- Beware of anyone charging an upfront fee to assist you.
- Under N.C. law, it is 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.
- Do not provide personal information over the phone or through email.
- Your loan servicer and the Education Department will not ask you for personal information over the phone or in an email.
- If you receive an email regarding your student loans, make sure it is being sent from an email…