Federal Student Loan Forgiveness Scam Calls: Who’s Affected?
Have you received a call or voicemail from a company claiming to offer student loan forgiveness or other benefits?
Did you know that claims these companies are making may be false and deceptive?
Student loan borrowers have been hit with an onslaught of calls and messages from telemarketers. Scammers are calling, texting, and emailing, fishing for money and personal information, according to the Federal Trade Commission (FTC).
These telemarketing companies may be capitalizing on misinformation and confusion surrounding the extended pause on federal student loan repayments and a massive expansion of a federal loan discharge program, the Temporary Expanded Public Service Student Loan Forgiveness (TEPSLF) Program and a temporary waiver.
In addition to confusing borrowers, these student loan forgiveness scam calls may violate a federal privacy law that protects consumers from false and misleading telemarketing, the Telephone Consumer Protection Act (TCPA).
Further, student loan servicing companies, such as MOHELA, may be using telemarketers to try and get borrowers in public service with federal student loan debt to refinance into private student loans, despite the fact that that may qualify for forgiveness under TEPSLF.
Consumers have reported receiving automated recordings telling them that they only have a short time to qualify for a government program that will help them with their student…