As student loan borrowers readjust to making payments after a more than three-year pause, they should stay aware of more than just their payment due dates — they should also be on high alert for potential scams. Before student loan payments even resumed in October, over 350,000 student loan-related robocalls were placed within the first two weeks of September, "roughly as many as in the nine prior weeks," CBS MoneyWatch reported, citing information from Transaction Network Services.
Further, given the length of the pause and the changes it brought to the student loan landscape, it is likely easier than ever to get confused as to what's what. As Yahoo Finance noted, "During the pandemic, some servicers stopped dealing with student loans or ended their contracts, which means many borrowers are likely to restart their payments with companies they may not be familiar with." Meanwhile, other borrowers are making their payments for the first time ever.
What are common student loan scams to look out for?
How can you avoid falling victim to a student loan scam?
Where can you find legitimate student loan info?
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