After Biden announced student loan forgiveness, the Biden administration is increasing their efforts to inform borrowers about scams they may encounter.
However, many have hope that all or some of their student loans will be forgiven after the Biden administration announced in August their plan to forgive student loans.
She said she probably wouldn’t know how to identify a student loan scam from an actual call or email from the government telling her her loans are forgiven. The White House also said borrowers shouldn’t tell anyone their federal student aid password because the Department of Education wouldn’t contact them for that information.
The White House also advised that borrowers shouldn’t pay anyone who promises to forgive their loans. They said borrowers can report scammers to the Federal Trade Commission.
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