Andrew Harnik/AP/Shutterstock / Andrew Harnik/AP/Shutterstock
President Joe Biden announced the much-anticipated administration’s plan for student loan forgiveness on Aug. 24. and the online application will soon be available. However, the administration is now warning borrowers to be aware of potential scams and announced it has launched a “whole-of-government effort.”
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The student debt relief initiative could benefit as many as 40 million Americans, the White House said in a statement, adding that it is taking “ongoing and expanded efforts across the Administration to combat scams and misinformation, including educating borrowers about how to protect themselves against scams and accelerating efforts to share scam complaints with states.”
In turn, the administration said it was “developing a clear, simple, and secure site for borrowers to apply for debt relief” and announced it was taking new action to go after scammers in individual states. In addition, it said it will launch a social media campaign and released a “do’s and don’ts” list to help borrowers avoid scams.
Here is what the administration and…
