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FBI Warns of Potential Fraud Related to Student Loan Forgiveness

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This is the stock image that came up when we googled “fraud” and it’s too ridiculous not to use.

By Victoria Hsieh

The San Francisco FBI office said Friday the public should look out for scammers attempting to defraud individuals seeking federal loan forgiveness.

With new government aid programs, scammers will see this as an opportunity to defraud new victims, according to Special Agent in Charge Robert K. Tripp.

Scammers and fraudsters may say that they will help individuals enter the Federal Student Loan Forgiveness program, likely with electronic communication methods, and claim they also need personal information or the victim’s money to complete the application process.

“The U.S. government will not charge any type of processing fees or require any type of payment to have your federal student loans forgiven,” Tripp said.

Scam websites may request financial information, such as bank account and routing numbers, to complete the application process.

Phone scammers may call to request for personal and/or financial information as representatives of a bank or the U.S. Department of Education.

The FBI recommends to always consult official U.S. government websites and to be cautious when entering personal or financial information on websites.

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