SPRINGFIELD, Mo. (KY3) – Student loan scams are increasing nationwide as cybercriminals target borrowers confused by changing federal loan programs.
Cybersecurity experts said these scams have become more prevalent amid uncertainty about federal student loan programs. Shifting rules and deadlines for federal loan programs create confusion that scammers exploit.
Scammers promise quick loan forgiveness and demand upfront payments, then disappear with victims’ money after promising debt relief that never materializes.
Protection steps for borrowers
The Better Business Bureau recommends steps borrowers can take to protect their information from fraudsters.
“If you don’t have a FSA ID account set up through studentaid.gov, do that,” said…