A young woman who works in my office received an offer for student loan forgiveness. Here’s what happened.
First came the emails saying there were issues with her student loans and to please call.
After repeated emails, she decided to call in. The person identified themseves as from the student loan provider asked where she worked and how much did she owe on her student loans. They wanted to know, because it looked like she qualified for student loan forgiveness.
But wait, shouldn’t the student loan servicer already know how much she owed?
“That is private,” she replied, wisely suspicious.
The person quickly hung up on her.
Next, she called the Dept. of Education to see if it was legitimate.
“We never make calls like that. There are a lot of student loan frauds right now,” the real student loan advisor said.
Beware if you (or someone you know) has a student loan. Any emails or calls asking for information (innocent at first, then proceeding to more personal) are from liars and scam criminals.
There are genuine student loan forgiveness programs, but they are included in the written contract of your original student loan. It tells you what the requirements are. There are no new forgiveness programs due to Covid-19 or anything else you don’t already know about.
As always, I’m watching out for your best financial interests. Thank you for reading and passing along to others who can benefit.