FRESNO, Calif. (KGPE) – If you have a student loan, beware of convincing scammers with a deal too good to be true.
Recently, President Biden announced a program that will cancel up to $20,000 dollars in student debt, but with confusion about how the program works, scammers are taking advantage of those with thousands in student debt.
“There is some confusion out there, that makes people think they are being solicited for help,” said Central California Better Business Bureau President Blair Looney.
Over the years, student debt in the US rapidly increase. Now it is at an astonishing $1.6 trillion. Biden announced relief is on the way but the BBB warns of a recent scam.
“The faster they can get your brain to go, the more vulnerable you will be to giving information,” said Looney.
Victims have come forward after losing money to the new scam.
The scam starts with a person calling or leaving a voicemail pretending to be associated with the loan forgiveness program. The scammer promises thousands of dollars, in one case $60,000.
“If you have any moment of hesitation or your gut is telling you it is a little off, discontinue the call and then call the agency that is supposed to be calling you,” said Looney.
Looney said some of the scammers even provide the victim’s last four digits of their social security number or FASFA account number to gain their trust.
Once they have the trust of the person, the scammer charges…
