Student loan scam calls are a pervasive issue, with the Federal Trade Commission receiving 2.6 million fraud reports in 2023. (studentaid.gov) These fraudulent calls often promise immediate loan forgiveness or reduced payments, preying on borrowers' concerns. To protect yourself, consider the following strategies:
What Are Common Student Loan Scams?
Scammers employ various tactics to deceive borrowers, including:
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Aggressive Advertising: Claims like "Act immediately to qualify for student loan forgiveness before the program is discontinued." (studentaid.gov)
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Upfront Fees: Requests for payment before providing any services, which is illegal for companies to charge before they help you. (consumer.ftc.gov)
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Unauthorized Access: Asking for your Federal Student Aid (FSA) ID or personal information to access your account. (consumer.ftc.gov)
How Can You Block Unwanted Calls?
Implementing call-blocking measures can significantly reduce scam calls:
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Use Built-in Phone Features: Both iPhone and Android devices offer settings to block or filter unknown callers. (mcafee.com)
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Download Call-Blocking Apps: Applications like Robokiller use AI to identify and block potential scam calls and texts. (robokiller.com)
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Contact Your Service Provider: Many carriers offer call-blocking services; check with your provider for available options. (consumer.ftc.gov)
What Should You Do If You Receive a Scam Call?
If you suspect a call is a scam:
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Hang Up Immediately: Do not engage with the caller.
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Report the Call: Notify the Federal Trade Commission at ReportFraud.ftc.gov. (consumer.ftc.gov)
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Monitor Your Accounts: Regularly check your financial statements for unauthorized activity.
How Can You Stay Informed About Legitimate Loan Forgiveness Programs?
To access accurate information on loan forgiveness:
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Visit Official Websites: Use resources like StudentAid.gov to explore programs like Public Service Loan Forgiveness (PSLF). (studentaid.gov)
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Contact Your Loan Servicer: They can provide guidance on repayment options and eligibility.
How Does Robokiller Help Prevent Scam Calls?
Robokiller utilizes advanced AI and machine learning to identify and block scam calls and texts. By analyzing digital fingerprints and cross-referencing numbers against a global blocklist, Robokiller effectively prevents unwanted calls from reaching your phone. (robokiller.com)
By staying vigilant and utilizing available tools, you can significantly reduce the risk of falling victim to student loan scam calls.
Highlights:
- Pay your student loans — not scammers | Consumer Advice, Published on Monday, December 18
- ’Tis the season for student loan scam calls | Consumer Advice, Published on Thursday, June 29
- Hang up on unwanted calls about loans | Military Consumer, Published on Sunday, September 22
