On Your Side: Calls about your student loan

Published: Sep. 28, 2021 at 6:31 PM CDT
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SPRINGFIELD, Mo. (KY3) - A viewer sent us the voicemail he received, there’s just one problem. This viewer says he does not have student loan debt.

The voicemail says:

I was giving you a quick call because I am reviewing your student loan profile. And it looks like there’s been some pretty big changes to the federal student loan programs recently. When you have a moment, give me a call back. I would like to discuss your possible options with you.

If you have student loans, there’s real help out there through forgiveness programs and the American Recovery and Reinvestment Act. That’s why this gets confusing. You need to work directly with your loan servicer.

“Unfortunately people are believing a group is going to call out of nowhere and say your student loans are forgiven, but in order to successful process your information, you need to pay the taxes upfront,” said Stephanie Garland with the Better Business Bureau.

Do not pay processing fees or service charges.

Watch out for the phrases, ‘pandemic grant’ or ‘Biden loan forgiveness’. Folks with the Better Business Bureau say scammers use those pitches.

Again, talk with your loan servicer to find real options.

Use caution with random phone calls and emails about loan consolidation and forgiveness programs. If they use high pressure tactics, like saying you must respond today, it’s probably a scam.

If it sounds too good to be true, you know the rest.

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