Tag: Student Loan and Education Scams

For college students and parents, paying tuition is often at the top of the to-do list each semester. Imagine getting a call from someone who supposedly works at your school, saying you haven’t paid the bill. They threaten to drop your classes unless you send money right away. The call might raise alarm bells, but slow down — you might end up paying a scammer instead of the real tuition and fees.

If you have federal student loans, you probably got an email last month from Secretary of Education Miguel Cardona. (The email address it showed was noreply@studentaid.gov.) It has important information about your options for loan forgiveness. While that email is legit, scammers spread fake information about your student loans to try to get money or information from you.

Scammers will say just about anything — in any language — to separate you from your hard-earned money. And when it comes to student loan forgiveness, they’ll target Spanish speakers with false promises of debt relief help.

Hearing a lot about federal student loan forgiveness in the news? You’re not alone — scammers are, too. You might get a call from someone saying they’re affiliated with Federal Student Aid (FSA) or the Department of Education. (They’re not.) They’ll say they’re following up on your eligibility for a new loan forgiveness program, and might even know things about your loan, like the balance or your account number. They’ll try to rush you into acting by saying the program is available for a limited time. But this is all a scam. What else do you need to know to spot scams like this?

That call or text might not seem like a scam. It might look like it’s Apple or Microsoft, saying there’s a problem with your computer. (It’s not.) It might seem like it’s Amazon, saying there’s a problem with an order. (Also no.) It might even sound like your grandchild, calling with (supposedly) an emergency. (Still no.) All of these are scammers. This is National Consumer Protection Week (NCPW) and we’re inviting you to join us in talking about scams just like these.

You’ve probably heard the news — federal student loan repayments are starting again in October. But scammers might try and tell you they can help you avoid repayment, lower your payments, or get your loans forgiven — for a price. Here’s how to spot and avoid these scams.

If you have federal student loans, you’ve probably heard about the Supreme Court decision and know that repayments are restarting in October. But you might also be hearing from scammers who take advantage of confusion around big news like this. So how will you know what’s real and what’s a scam?