The 40 million Americans eager to shed their student debt are being targeted by scammers who are calling, texting and emailing people with fraudulent offers of help, law enforcement officials warn.
Criminals often adapt old scams to capitalize on current events, in this case making use of the Biden administration’s program to forgive as much as $20,000 in student debt per borrower.
“The FBI typically sees this behavior when any new government aid program becomes available,” Jeffrey Downey, special agent in charge at the agency’s field office in El Paso, Texas, said this week in a statement cautioning the public.
Fraudsters claiming they can guide folks through the Federal Student Loan Forgiveness program use the scheme to get money for services they won’t provide or to gather personal information for other crimes, according to the FBI, which was joined by the Vermont Attorney General’s Office in sending out an alert.
The would-be fraudsters behind the calls may also claim to represent a bank or the U.S. Department of Education. They then typically ask for personal information to supposedly start the application process for loan forgiveness.
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