September 15, 2022
INDIANA — The Biden Administration recently announced that the federal government will cancel up to $20,000 of federal student loans per person. Millions of Americans will be recipients of the student loan debt relief; unfortunately, this creates an excellent opportunity for scammers.
As student loan holders navigate the new forgiveness program, con artists will undoubtedly be there to take advantage of any confusion. It happens with any big government initiative, including the COVID-19 vaccine roll-out, eviction moratorium and pandemic relief programs. Always be sure to do your research before sharing any personal information.
Tips to avoid student loan forgiveness scams
• Get to know the terms of your student loan and the relief program before acting. Always do your research before sharing personal information. Go straight to official government websites, such as ED.gov and studentaid.gov, for information.
• Never pay money for a free government program. Scammers often trick victims into paying for free…
