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Student loan scams on the rise after payment pause extension

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Since then, reports of scams have been on the rise with scammers leaving messages like the following:

“This notice is from the Department of Education. All student loan programs will be stopped immediately. To be eligible, you must apply within the next 24 hours.”

The Federal Trade Commission says phone, email and texting scams are being rolled out right now to try and confuse people about refunds.

“They might convince you that you need to start paying again,” says Victoria Carreon, of Better Business. “There are also classic scams where they try to convince you that they can help you consolidate your loans at a lower rate.”

Here are some tips to avoid student loan scams:

  • Never pay upfront fees
  • Do not provide your Federal Student Aid ID or Social Security number
  • Don’t sign up for quick debt forgiveness
  • Identify fake seals and logos

“Consumers have to do their homework and work hard to see who they are interacting with,” says Carreon.

https://www.kob.com/albuquerque-news/student-loan-scams-on-the-rise-after-payment-pause-extended/6349092/?cat=500 Student loan scams on the rise after payment pause extension

Yasmin Harisha

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