OMAHA, Neb. — There is a myth regarding those who typically fall victim to scammers: Many believe older Americans are most frequently scammed when the reality is that young adults are more likely to be duped. Research by both the Better Business Bureau (BBB) and the Federal Trade Commission (FTC) reveals that a startling 44 percent of those aged 20-29 have lost money to fraud. For those aged 70-79, the figure is 20 percent. Student loan forgiveness is one of the more frequent scams targeting young adults.

“Given that the current COVID-19 pause in federal student loan payments will end on Oct. 1, we expect to see an uptick in scam activity,” said BBB Regional CEO Jim Hegarty.

Scammers are likely to bombard loan holders with rip-offs that claim to offer “free extended forbearance!” and fictional “President Biden…

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