- 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 qualify for…