Scam Alert: Text Messages About Your Student Loans
If you are getting unexpected text messages about student loan forgiveness, chances are pretty good that it is a scam.
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Student loan scams are everywhere—phone calls, emails, texts, even mail. This section exposes the most common student loan scams, with real examples and red flags to watch out for. If you’re getting suspicious messages or think you’ve been scammed, we’ll help you figure out what to do next.
Scam Alert: The “Department of Education” called me about my student loans
Student loan borrowers should treat phone calls from the “Department of Education” with a lot of skepticism.
PSA: DO NOT Add Cosigners to your Existing Loans
Lenders might ask a borrower to add another cosigner to their loan, but borrowers should say no to this request.
Scam Alert: Fake Settlement Offers
Student loan scammers are trying to trick borrowers into making a large payment to “settle” their debt. Several red flags make it clear these emails are not legitimate.
