Con artists require us to keep on our toes. And now, those who have student loans are joining the ranks of the thousands of people who are affected by fraud each year. As you likely are aware, a student loan forgiveness program is available for those who work for most government or social service agencies. Fraudsters are using this program in a variety of ways to gain your trust and defraud you in the process.
In its simplest form, someone could receive a call from a scammer saying they are with Federal Student Aid (FSA) following up on their eligibility for loan forgiveness. Through the course of the call, and under the guise of being helpful, the victim shares their personally identifiable information and is set to be scammed. There are additional methods, such as spoofed websites where a victim would input their information to “apply” for loan forgiveness or “appeal” applications if they had been denied forgiveness in the past. Regardless of the method, all of these are scams!
If your customers or members need to manage their federal student loans, the legitimate place to start is at StudentAid.gov – the FSA’s official website.
Remember:
- You should not share your Federal Student Aid (FSA) log-in information with anyone.
- You will not be able to participate in any repayment or forgiveness program if you do not qualify.
- The Federal Student Aid (FSA) site will show you any loans for which you might be eligible.
- You should never pay an assistance fee to rid yourself of your student loan debt.
You and your staff are in the perfect position to help those who may be affected by this new form of fraud. TRC Interactive is here to help! If fraud training would be helpful to assist in identifying where your institution and your customers or members are vulnerable, please contact us today!