Scam Targets Student Loan Holders

By: Sarah Gill, Financial Aid

“Most students coming out of college have thousands of dollars in student loan debt. … Now, people are taking advantage of that,” WBAY reports, in an article that quotes NASFAA board member Sara Beth Holman.

“They’re targeting college students with a new scheme to take their money.

Students will get a phone call, email, or see an ad promising to erase student loan debt as a part of a new government program.

‘When a company reaches out to them and says, Hey here’s this debt relief, something we can do to help you, it can be very tempting to think, Oh good. I can give it to someone else who can go and take care of it for me,’ said Sara Beth Holman, Director of Financial Aid at Lawrence University.

‘The first thing they should do is contact the loan servicer, the federal loan servicer for their loan,’ Holman said.”

Taken from:  http://www.nasfaa.org/Main/fa-news/natl/Scam_Targets_Student_Loan_Holders.aspx

Publication Date: 4/28/2015