This year’s class of college graduates are getting ready to start their new lives. It’s a big transition that includes several important changes. Grads may be moving to a new city, finding a new place to live, or searching for a new job. Graduation also often means new financial responsibilities, such as starting payments on student loans.
College graduates are navigating many life changes, and scammers are eager to take advantage of their inexperience. The Better Business Bureau offers the following tips to help grads avoid common scams.
Know the terms of your student loans
One of the most common ways scammers target college graduates is with fake loan forgiveness opportunities. You may receive an unsolicited email, phone call or text message stating that you can qualify for lowered payments through a debt forgiveness program. To use the company’s services, just fill out a form and pay a fee. Some of these companies are real, but they pitch their services with false claims and incomplete information. Other companies are fakes, only hoping to get their hands on your personal information and money.
Scammers may also contact college grads regarding student loan repayment hiatus in response to COVID-19. See the latest U.S information on loan repayment. Scammers may claim that to take advantage of the program, you need to complete a form or pay…
