Student loan forgiveness scams on the rise



COLORADO SPRINGS – A $ 1.7 trillion national student loan debt has resulted in calls, text messages, emails, and even mailed letters from companies offering to help manage or even cancel student loan debt. But in many cases, these offers are too good to be true and can create even more problems for borrowers.

“Most of us need a lot of money for the education we got, and to get the opportunity out of it, why don’t you go for it, you know?” Said Christopher Demers, who is currently the director of News5 news broadcasts.

Demers says he received an offer to forgive student loans in the mail and, seeing it as a “final notice,” decided to call.

“The scary thing is that they had all my information about my student loans, about what could have happened to me,” Demers said. “She said it would be $ 39 a month for 20 years, and then after that, I would be eligible for a loan forgiveness. So I said, “Okay, that’s great, let’s do it.” At the end, she said, “We need $ 1,000. forward “blah, blah, blah, and I thought I couldn’t pay.”

After talking to colleagues and family, Demers called the feds, who broke the bad news to him.

“I was probably a victim of a scam and I need to change everything I did,” Demers said.

Demers immediately contacted his bank to close his account and open a new one.

“My bank told me that they did have to change a few pieces in the last three weeks,” Demers said. “It makes me feel better because I felt stupid about falling in love with it, especially knowing it all. But then, when I realized that it was not just me, and that it was a very common thing. realized that these people are getting a lot more complicated and we are all in trouble. “

At the Better Business Bureau of Southern Colorado, phones are called by people sharing similar experiences.

“We are absolutely sure that they have increased. I think we get dozens of calls a day, ”said Ada Rodruges from the BBB in Southern Colorado. “I mean only personally, through colleagues and personal connections, I know a lot of people who have had five or six calls a day in the last week.”

News5 received a voicemail that was declared a scam:
“Um … this is Joanna, and I’m calling about your student loan. We need to discuss your repayment options in light of the new changes that have recently come into effect. Please call me at reference 45839.”

Have you recently received one of these student loan management or forgiveness offers? Before taking any action, you can speak with a consumer advocate.

You can contact Best Business Bureau in Southern Colorado to get answers to questions or problems by calling (719) 636-1155

V Consumer Financial Protection Bureau is a US government agency that ensures that you are treated fairly by banks, lenders, and other financial companies. You can contact them by phone (855) 411-2372


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