Student loan payments are restarting in October after a pause of more than three years — and scammers are trying to take advantage, the Federal Trade Commission warned.
Fraudsters may try mislead borrowers by offering assistance and asking them to pay for it, Ari Lazarus, consumer education specialist at the FTC, wrote in a consumer alert Thursday.
Those fake offers might include lowering borrowers' monthly payments, avoiding repayment or getting their loans forgiven.
Interest on federal student debt was also suspended during this period but started accruing again on Sept. 1.
The "best source" of information on federal student loans is the Federal Student Aid website, studentaid.gov, the FTC said.
Persons:
Fraudsters, Ari Lazarus, Trump, Biden
Organizations:
Federal Trade Commission, Finance, Frisco, Federal, Aid, FTC