Many scams attempt to imitate government services in order to gain access to your personal and financial information. Others pretend to offer help to vulnerable individuals with solutions to their unique financial situations.
Learn: You May Automatically Qualify for Student Loan Forgiveness
Student Loan Forgiveness Application Is Live: Steps To Apply
The U.S. Department of Education (ED) officially opened the application process for federal student loan forgiveness on Oct. 17. While this presented welcome news to borrowers looking to have their student loan debt eliminated, it also meant open season for scammers looking to steal an applicant’s identity and money.
Swindlers will try anything to get your money, but they can’t if you know who you should be dealing with and follow a few basic security measures to protect yourself. Fortunately, there are plenty of outlets providing tips to avoid student loan scammers, including the Federal Trade Commission (FTC) and the Biden administration.
The White House previously released a fact sheet detailing what the government is doing to inform the public and state jurisdictions about student loan fraud and its planned prevention techniques. The Oct. 5 statement claimed that a “whole-of-government effort” involving the ED, FRTC, the Consumer Financial Protection Bureau (CFPB) and the Federal Communications Commission (FCC) is necessary to address “aggressive and comprehensive scam prevention and…
