PEORIA Ill. (WMBD) — After the Biden Administration announced its student loan forgiveness plan, scammers latched on to the confusion in households in an attempt to steal money or personal information.
Scammers commonly reach out through social media apps like Facebook, Instagram, and email. The scam artists send messages saying they can reduce student loans or get people at the front of a waitlist for loan forgiveness.
The best thing people can do is to talk directly with their loan advisor and become aware of what type of loan they have, and if they qualify for loan forgiveness.
The government will never attempt to contact people through social media and people shouldn’t give out any personal information.
The CEO of the Better Businesses Bureau of Central Illinois Jessica Tharp explained how scam artists keep coming back.
“These scammers work in a very organized web of crime, so they keep phone numbers from the grandparent scam or that extended car warranty, so they have access to lots of information and they just change their tactic based on what’s popular in the news,” said Tharp.
Tharp also said those who are a victim of a loan scam should contact their loan advisor immediately.