Financial schemes and scams were most frequently reported to have stemmed from a phone call.
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If you get an email, letter or call about student loan debt forgiveness, pause before you send along any of your personal information.
It could be a scam.
Amid a rise in calls for broad-based student loan debt forgiveness, the pandemic-related pause in payments for federal loans and the government erasing balances for borrowers from specific schools, claims by companies purporting to help people cancel their own higher-education debt have ticked up.
“It’s kind of a prime moment for scams because I think they’re capitalizing on the confusion that surrounds what is happening with student loan policy and potential forgiveness,” said Bridget Haile, head of borrower success at Summer, a company that helps borrowers simplify and save on their student debt.
The coronavirus pandemic has also given scammers more ways to take advantage of people who have…