SAN FRANCISCO BAY AREA, CA — The Biden Administration had barely finished announcing its program to cancel federal student loan debt for more than 40 million Americans when scammers hatched plans to fleece people out of money.
The San Francisco Bay Area Better Business Bureau issued an alert about scams that have already been reported. Residents have complained about impostor loan forgiveness calls and emails.
According to the BBB, this is how it works, “You receive a call or voicemail from someone claiming to represent a new student loan forgiveness program. To see if you qualify for forgiveness, the scammer insists that you need to complete an online application form, which asks for personal information, such as your bank account details.”
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Some scammers have asked for an upfront fee to apply for loan forgiveness. Others have tried to get people to redirect student loan payments to them.
Consumers report that they have heard from scammers who pretend to be from a government agency.
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To avoid being taken, the BBB offers these tips:
- When in doubt, contact the government agency directly. If you receive a message that seems legitimate, but you aren’t sure, stop communicating with the person who contacted you. Then, verify their claims by contacting the government agency they say they represent.
- Never pay fees for a free…
