The latest scam attempts to convince you that there are new rules and that you need to act now. This is just the latest in a bunch of scam attempts that are similar to credit card interest rate scams.
They typically promise unrealistic amounts of loan forgiveness, fast ways to get loan forgiveness, try to get your FSA ID or other personal information and try to rush you into paying them immediately.
Many times, they will use the U.S. Department of Education’s name and seal to give it legitimacy.
Audio Transcript:
“This is Carol Duncan; I’m calling in reference to your federal student loan. I need to discuss your repayment options with some new changes that have taken effect recently. So, if you could please be sure to give me a call back, I’m going to go ahead and give you a reference number. If you would please have this handy when you call back, it just makes this a lot easier. Thank you.”
