Student loan debt: the scams circulating

With so much talk nationwide about what kind of forgiveness might happen, scammers are calling students, parents, and grandparents.

GREENSBORO, North Carolina – Student debt relief. It’s what everyone is talking about.
The payments pause is set to expire on August 31, 2022, but it looks like we’re hearing about what could happen. Let me tell you what’s going on, scam calls.

“They also spoof the names and 800 numbers of real lenders so you think it’s them, a real lender name will show up, and if you’re not really sure who your lender is. This could cause you a problem because you’ll actually think you’re talking with your lender and you’re not,” said student loan scam expert Mary Jo Terry.

Who’s on the other side of the phone? There is only one way to know if a call from a “lender” is real or not. You need to know who owns your loan.

Chances are that one lender has bought out another. Find your old documents and go from there or go to the StudentAid.gov website. Student loan experts say this is a completely secure website where you can see who your loan officer is and update your information.

By the way, updating your information is one of the top three scam calls.

“With all the talk of debt relief, there’s a big push for information that you probably haven’t updated, and then there’s updating your banking information which is scarier than first and last but not least, you can’t make your payment right now, so why don’t you pay me to fill out your federal forms,” Terry said.

Let me be very clear, you don’t have to pay anyone to fill out federal forms for your student loan, for scholarships—for really…anything.
Completing federal forms is free, and there are resources to help you.

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