Like millions of Americans, Emmy Ross has a bunch of student debt. So when she started getting phone calls from people offering to help have the loans forgiven, she was immediately interested.
“I thought it was serious because they are so persistent,” Jing Su said. “I said, ‘I got a call again. So what is the story?’ You know?”
“Every time we would get on the phone, she’d be like, ‘Oh, did you call the student loan people yet?’ And every time, I’d be like, ‘Mom, it’s not real. It’s a scam,’ ” Ross said.
Thankfully, the callers didn’t get any information or payment details out of Ross or her mom. But not everyone has been so lucky.
This winter, the Federal Trade Commission warned about an increase in student loan scams. Those scams prey on confusion. President Biden said during his campaign that he was open to forgiving some student debt, but that hasn’t happened yet.
Student loan scams are on the rise as the pause on payments is due to expire
In the meantime, the federal government put federal student loan payments on pause during the pandemic. With that pause now set to expire at the beginning of mers are swooping in.
They’re promising to reduce payments or even cancel student debt entirely – if you give them your credit card number. Continue reading “Student loan scams are on the rise as the pause on payments is due to expire”