Better Business Bureau warns of student loan forgiveness scams

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Scammers are already trying to cash in on student loan forgiveness.

Scammers are already crafting ways to cash in on President Joe Biden’s student loan forgiveness plan, according to the Better Business Bureau.

The scam often begins with a call or voicemail from someone claiming to represent a new student loan forgiveness program,. The scammer then insists that you need to complete an online application to see if you qualify. The form asks for personal information, such as bank account details. The group offered some advice on how to avoid getting scammed when it comes to student loan forgiveness:

Never pay. Government agencies will never ask for a fee to benefit from a free program. Scammers might tell you you’ll get relief faster or gain access to additional benefits if you pay, but that’s all part of the con, according to BBB.

 

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