BBB: Beware of new scam targeting consumers with student loans

CAPE GIRARDEAU, Mo. (KFVS) - The Better Business Bureau says to beware of a new scam targeting consumers with student loans.

According the BBB, scammers wasted no time capitalizing on the Biden Administration’s plan to cancel some federal student loan debt.

Regional Director Whitney Quick said most of the scams reported have been government impostors.

She said one consumer told them her daughter received a voicemail from “the Biden Student Loan Forgiveness Program.” The consumer said they returned the call and talked to “Peter,” who asked for her email address and telephone number. According to the consumer, he also asked if she wanted to see if she qualified for the loan, but when they started asking him questions, he got frustrated and ended the call.

Quick said if you have doubt, you should contact the government agency directly and try not to give in to scare tactics.

Copyright 2022 KFVS. All rights reserved.