How to Spot and Avoid Student Loan Forgiveness Scams

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Editor’s note: Lantern by SoFi seeks to provide content that is objective, independent and accurate. Writers are separate from our business operation and do not receive direct compensation from advertisers or partners. Read more about our Editorial Guidelines and How We Make Money.
What Are Student Loan Forgiveness Scams?
Signs of Student Loan Forgiveness Scams
Promises Immediate Student Loan Relief
Suggest That You Pay Money Upfront
Ask You for Your SSN or Other Sensitive Information
Claim to Be Affiliated With a Government Agency
Use High-Pressure Sales Tactics
Want You to Sign a Form Giving Them Power of Attorney
What to Do if You Have Been a Victim of a Student Loan Forgiveness Scam
Contact Your Servicer Immediately
Contact Your Bank or Credit Card Company
File a Report With the Appropriate Agencies
Monitor Your Credit Report
Change Your Passwords
The Takeaway
Frequently Asked Questions
Photo credit: iStock/evgenyatamanenko
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About the Author
Rebecca Safier has nearly a decade of experience writing about personal finance. Formerly a senior writer with LendingTree and Student Loan Hero, she specializes in student loans, financial aid, and personal loans. She is certified as a student loan counselor with the National Association of Certified Credit Counselors (NACCC).
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