The BBB says people are losing thousands of dollars to scammers claiming to reduce debt and monthly payments.
TAMPA, Fla. — Student loan payments are set to kick back in October of this year after they were paused because of the pandemic. But people are losing thousands of dollars to student loan forgiveness scams.
The Better Business Bureau of West Florida says scammers are sending emails and making phone calls. They’re looking to take advantage of people who are looking to get out of debt or reduce their monthly payments.
Here’s what to look for:
They promise they can lower your debt to really low payments. They promise to improve your credit scores. They may even claim to be part of a government agency or partnering with a government agency.
“The tip off to the scam is that they’re going to use high pressure tactics to act now and they’re going to charge you an upfront fee and pay this fee now so they can facilitate the student loan consolidation for you,” says Bryan Oglesby with BBB of West Florida.
If you think you’ve fallen for this, here’s what you do.
Report it to the Federal Trade Commission.
Contact the Better Business…
