BBB: Never pay upfront for student loan forgiveness

Scammers are trying to capitalize from borrowers' desire to eliminate student debt.
Published: Sep. 5, 2022 at 7:57 AM CDT
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MONROE, La. (KNOE) - Millions of Americans have accrued student loan debt. It is estimated that one in five people in the U.S. owes student loans, according to data collected by the Washington Post. The Biden Administration announced a plan that will forgive some of that debt for some people. It’s relief that many want to take advantage of, including scammers.

That’s why Jo Ann Deal with the Better Business Bureau shared the importance of not paying for student loan forgiveness upfront. Deal said many who work in a trade or profession usually have student loans.

She said if you see fake calls, texts, or emails asking you to pay a fee for information about student loans do not respond to those emails because they are scams. If you get confused about the emails, texts, or calls about student loan forgiveness you should investigate using your school’s financial aid office or loan company, Deal explained.