Loan Forgiveness Scans Get a New Twist

The Better Business Bureau, which serves the Canton area and Greater West Virginia, provides consumers with tips and advice to avoid fraud.

Student Loan Owners, Beware of Sudden Phone Calls.development of Biden administration plan (studentaid.gov/debt-relief-announcement) A move to cancel some federal student loan debt has begun, and scammers are finding compelling ways to capitalize on the chaos.victim speaks BBB.org/ScamTracker Loan Forgiveness Scams Where Callers Obtain Social Security Numbers, Graduation Dates, and even Federal Student Aid Information.

Fraud

I received a phone call or voicemail from someone claiming to represent the new Student Loan Forgiveness Program. Scammers claim it helps secure tens of thousands of dollars in loan forgiveness.According to someone recently BBB.org/ScamTracker According to reports, scammers promised to write off $60,000 in student loans for victims. Biden administration plan (studentaid.gov/manage-loans/forgiveness-cancellation/debt-relief-info). These callers provide a compelling amount of information and “all sorts of numbers and We have numbers” in a recent BBB Scam Tracker report. According to one report, the caller “not only knew my email address, but also the name of the school I attended and the last four digits of my social security number.” Another victim reported that the scammer “somehow tricked me into believing that he knew my girlfriend’s FAFSA account information and worked with the Loan Forgiveness Program.” The dollars are spread out over several months, after which you pay less each month. The loan will then be forgiven once the current suspension of the Loan Forgiveness Program ends. Unfortunately, these scammers have nothing to do with the official Student Debt Relief Plan. Whatever you pay goes into the pocket of the scammer and does nothing to mitigate your student loans.

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