TL;DR: This scam pattern spikes whenever loan repayment resumes or a new forgiveness program is announced, when borrowers are actively searching for information and are receptive to unsolicited outreach about their loans. Legitimate loan forgiveness and repayment plans never require an upfront fee, and you should manage your loans only through your servicer's official site, never a third party that contacted you first.
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This scam pattern spikes whenever loan repayment resumes or a new forgiveness program is announced, when borrowers are actively searching for information and are receptive to unsolicited outreach about their loans.
How the Scam Plays Out
Callers and emailers pose as loan servicers or the Department of Education, offering immediate forgiveness or lower payments in exchange for an upfront fee or your federal student aid login credentials.
How to Protect Yourself
Legitimate loan forgiveness and repayment plans never require an upfront fee, and you should manage your loans only through your servicer's official site, never a third party that contacted you first.
If this looks similar to something else you've seen, it's worth reading Summer Travel Scams to Watch For.
This pattern shows up elsewhere too — see Super Bowl Ticket and Betting Scams.
Frequently Asked Questions
When does this typically happen?
This scam pattern spikes whenever loan repayment resumes or a new forgiveness program is announced, when borrowers are actively searching for information and are receptive to unsolicited outreach about their loans.
What tactics are used?
Callers and emailers pose as loan servicers or the Department of Education, offering immediate forgiveness or lower payments in exchange for an upfront fee or your federal student aid login credentials.
How can I protect myself?
Legitimate loan forgiveness and repayment plans never require an upfront fee, and you should manage your loans only through your servicer's official site, never a third party that contacted you first.
What should I do if I’ve already been targeted?
Stop all payments immediately, contact your bank or card issuer to see if a transaction can be reversed or flagged, and report the incident to the appropriate consumer protection body.