College loan scams: how to avoid getting tricked

Local News

MIDLAND, TX ( Big 2/ Fox 24) – Scammers are using a different method to get into your pockets. One of their ways is trying to get to people who owe student loan debt.

Heather Massey, senior regional director of Better Business Bureau, says there are ways to avoid getting scammed.

“If in doubt call the person you have your student loan with and ask them did you solicited this company,” Massey says. “Are they suppose to be contacting me?”

It sounds too good to be true to have all your student loan debt forgiven, especially since there is $1.5 trillion of student loan debt waiting to be paid off in the U.S. alone, but to make sure not only your money but your identity won’t get stolen there are a few things that you need to know.

“When you’re on the phone with someone, and they’re pressuring you for your date of birth, your social security number and credit card don’t give your information,” she says.

Massey says there are other methods scammers are using to get into your pockets.

“People don’t know if you have a student loan or not, and they’re going to send out these letters and these phone calls assuming and hoping you do have a student loan,” she says.

Massey says you may likely receive many phone calls-emails and even mail from these scammers But don’t fall for it; take a second and don’t rush to assume that it’s legitimate.

“Your debt is never going to be forgiven,” Massey says. “They’re not just going to call you and say guess what you owe us hundred thousand dollars we’re going to forgive it as long as you pass us five thousand upfront so they can come up with these things and people might be excited who doesn’t want a hundred thousand dollars worth of student loan debt reduce for five thousand, but you know deep down is too good to be true.”

For more information on what you should look for if you come across a suspicious phone call, email or mail regarding your student loan debt clicks the links below:

https://www.bbb.org/

https://studentaid.gov/resources/scams

Copyright 2020 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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