SCAM ALERT- Student Loan Scam

Scammers are constantly finding ways to try to get your money and your personal information. One way is to find someone with a student loan and offer to consolidate or reduce the monthly loan payments.

I received a tip from a Snohomish County resident who got this call, twice in a week, on her voicemail,

“re:        "your federal student loan and I am calling to discuss payment options.  Please call 866-518-8668 and use the reference # 600404 to better assist us"

The Office of Federal Student Aid, U.S. Department of Education, says that scammers often contact people by phone, email, letter, or text to offer a variety of services:

·         “Act immediately to qualify for student loan forgiveness before the program is discontinued.”

·         “You are now eligible to receive benefits from a recent law that has passed regarding federal student loans, including total forgiveness in some circumstances. Federal student loan programs may change. Please call within 30 days of receiving this notice.”

·         “Your student loans may qualify for complete discharge. Enrollments are first come, first served.”

·         “Student alerts: Your student loan is flagged for forgiveness pending verification. Call now!”

Most of the time, scammers want some sort of payment up front and your personal information.

The office points out that there is nothing a student loan debt relief company can do for you that you cannot do for yourself, for free! Its federal loan servicers can help you with:

·         Lowering or capping your monthly federal student loan payment

·         Consolidating your federal loans

·         Determining if you are eligible for loan forgiveness or other similar programs

·         Getting you loan out of default

This is one of those calls that it is just simpler to hang up on. Also, let the Federal Trade Commission know about it on its FTC Complaint Assistant web page.

 

Office of Federal Student Aid:

https://studentaid.ed.gov/sa/repay-loans/avoiding-loan-scams

Federal Trade Commission:

https://www.ftc.gov/news-events/audio-video/video/student-loan-debt-relief-scams

FTC Complaint Assistant:

https://www.ftccomplaintassistant.gov/#crnt&panel1-1