WABASH VALLEY (WTHI) – Ripped from the headlines – scammers are using big news stories to trick you into sharing personal information.
This time they are targeting student loan borrowers in the wake of lending giant Navient’s student loan settlement.
Navient recently announced it would cancel $1.7 billion in debt and pay $95 million in restitution for predatory lending practices.
Scammers are taking advantage of the announcement by spamming borrowers with promises of lower payments and loan forgiveness.
They may also offer to consolidate loans for a fee.
“There are legitimate companies that do that, but the indicator here is if they’re asking you to pay upfront for those services. That’s a huge red flag,” Jennifer Adamany from the Better Business Bureau warned.
Student loan borrowers who qualify for the Navient settlement do not need to do anything except go to this link and make sure their information is up to date.
The BBB says you should never pay a fee upfront for student loan help.
You should also research lenders.
