How to Recognize and Avoid Student Loan Forgiveness Scams

 How to Recognize and Avoid Student Loan Forgiveness Scams
  • Scammers are out to take advantage of the confusion around nationwide student loan forgiveness.
  • They may say they offer “Biden loan forgiveness,” but that program doesn’t exist.
  • A legitimate federal forgiveness option is the Public Service Loan Forgiveness program.
  • Read more of Insider’s loan coverage here. 

Student loan scams are common, especially as confusion remains over if and when student loans will be forgiven on a nationwide scale by the Biden administration. The COVID-19 pandemic has hit some people hard financially, and some borrowers may be seeking relief any way they can find it. 

Scammers might promise a path to forgive your loans completely and immediately. But most government programs require several years of payments in an eligible field of employment before you…

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