BUFFALO, N.Y. (WKBW) — The Federal Trade Commission has issued a new warning about student loan scams related to the White House’s recent announcement on loan forgiveness. According to census data, 45 million Americans have student loan debt, that's equivalent to one out of every seven Americans.
While applications for the national loan forgiveness program haven't opened yet, AARP's Director of Fraud Protection Programs, Kathy Stokes said it's important to not fall victim.
"It's a crime of opportunity, unfortunately," said Stokes.
Stokes warns you to ignore any phone calls, emails, social media messages, and other unsolicited messages from anyone claiming that they can help you get the link forgiveness faster. Stokes said no one can help you jump the line or guarantee eligibility.
"Verify it," urged Stokes. "Especially if it comes to you, and you're not looking for it. If someone's coming to you to solve your problems, that's a red flag right there."
Stokes reminds you to know what company you are paying your loan to, and verify any name changes. When it does come to apply, remember all government websites end in ".gov."
You can also report any fraud or scam to AARP's Fraud Watch Network, here.
