Scammers keep up with what is going on in the world to try and take advantage of people.
Just like you, they’ve heard about student loan forgiveness and may contact you about a loan forgiveness program they are promoting, according to the U.S. Federal Trade Commission.
There are legitimate ways to get your loan forgiven. For example, if you have a job with a qualifying public service employer, you may get loan forgiveness, according to consumerfinance.gov.
Scammers may claim to be with U.S. Department of Education or Federal Student Aid. They may "even know things about your loan, like the balance or your account number,” according to FTC.gov.
They’ll try to get you to commit to their program with high pressure sales tactics. They are trying to get you to pay them fees for the program.
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“Never pay an upfront fee. It’s illegal for companies to charge you before they help you reduce or get rid of your student loan debt. And if you have to pay upfront, you might not get any help — or your money back,” said the FTC.
The only place to get help with your federal student loans is StudentAid.gov. Your loan servicer and the FSA will not pressure you to commit to something.
Here are some ways from the FTC to spot scammers:
Don’t be fooled by government seals or logs. “Scammers use official-looking names, seals, and logos to make them seem more legit.”
“Don’t buy promises of special access. There’s no special access to repayment plans or loan forgiveness programs. No one can get you into loan forgiveness programs you don’t qualify for or wipe out your loans.
“Use your FSA account dashboard to see which programs you might be eligible for,” FTC said.
To get help with your private student loans, contact your loan servicer.
Do not give your FSA login information or ID to anyone. If someone tells you they need it to help you, they are a scammer, according to the FTC. If a scammer gets your information, they could steal your identity or “cut you off from your loan servicer.”
Remember:
Never rely on government seals or logos.
Don't fall for promises of special access to a program.
Don’t pay any upfront or other fees.
Never share your FSA ID or log-on.
You can manage your student loans at studentaid.gov/repay, for free.
If you think someone is trying to scam you, report it to the FTC at ReportFraud.ftc.gov.
Shredding events
The Shepherd’s Center of Greater Winston-Salem, 1700 Ebert St., Winston-Salem, will have an identity theft/fraud prevention shred-a-thon from 9 a.m. to noon Saturday. Documents will be shredded onsite in the lower parking lot. Please bring paper only. Do not include trash, metal or plastic. Donations of $5 per file box or grocery size bag are requested. Proceeds will benefit the mission of promoting and supporting successful aging.
West Bend Masonic Lodge will have a shred event at Lewisville Elementary School, in the bus parking lot beneath the water tower in Lewisville from 9 a.m. to noon Saturday. A $5 donation is requested for each bag or box. Proceeds will benefit the Bikes for Books reading programs at Lewisville and Morgan Elementary schools.