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It has been a frustrating and confusing time for many student loan borrowers.
President Joe Biden promised millions of Americans up to $20,000 in debt forgiveness, but then the Supreme Court blocked the program, and the relief never came. As payments restarted in October after a three-year break, borrowers were often given confusing or insufficient information on their accounts.
That has presented opportunities to scammers.
“When borrowers have difficulty reaching their loan servicers or are disappointed by the lack of loan forgiveness, they look elsewhere for help,” said higher education expert Mark Kantrowitz. “Student loan scams fill the gap.”
Ari Lazarus, consumer education specialist at the Federal Trade Commission, wrote in a recent consumer alertthat “scammers might try and tell you they can help you avoid repayment, lower …