On Your Side: Borrower beware, student loan repayment offers

Published: Sep. 11, 2023 at 5:23 PM CDT
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SPRINGFIELD, Mo. (KY3) - Student loan repayments start up again in a few weeks. Be wary of repayment offers in your inbox. As we first told you weeks ago, this is the go-to website. You go here to see what you owe and to make payment plans.

A KY3 viewer got an email about student loan forgiveness options. The only problem, she says she doesn’t have any loans. The email says it’s about student loan forgiveness. It reads, ‘Your application is incomplete’. There’s an approval code.

“It’s a hotmail address. Someone from the government is not going to email you from a personal hotmail address,” said Pamela Hernandez with the Better Business Bureau.

The bottom of the email says if you don’t have student loans, ignore the email. It’s an ad. Financial Aid workers say to be skeptical of all emails.

“As we go into repayment, there will probably be people who are trying to take advantage of students and former students who are struggling with repayments. Always be aware of lenders or contacts that say -- Hey, we can make your student loans go away, or we can take care of all that for you. It’s very scary when students get involved in those practices it’s not to the student’s benefit,” said Becky Ahrens with Drury University.

On Your Side: What to know about new student loan repayment plan

On Your Side: Get ready to pay your student loans

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