Scams involving student loan debt relief are on the rise, stay safe with these tips
Current events, such as the Student Loan Forgiveness, opens up a new avenue for scammers to try to get your money and personal information. With the student debt relief application opened from now until December 23, 2022, fraudsters have been targeting eligible applicants in an attempt to scam their way to securing funds or sensitive personal information.
Keep these three things in mind when you’re applying for relief to stay safe and secure:
- Remember, the application for debt relief is FREE, you don’t need to pay anyone to obtain student debt relief. If someone contacts you with promises of debt relief or loan forgiveness, report them to the Federal Trade Commission by visiting reportfraud.ftc.gov.
- Protect your personal information. The Department of Education and your federal student loan servicer will never call or email you asking for your FSA ID, account information, or password. If you receive a request to provide personal information from an unfamiliar caller, hang up and call your student loan servicer directly.
- Make sure you’re receiving accurate and up-to-date information. Sign up at www.ed.gov/subscriptions for important updates, and log in to your current account on StudentAid.gov to ensure that your contact info is up to date.
Camden National Bank is here to help. Visit our Security Center for more articles and tips to help you protect your personal information and your finances. Do you have more questions or are looking for more financial tips? Ask us here.