RICHMOND, Va. -- The Better Business Bureau has a warning for students during this COVID-19 pandemic, scammers are working around the clock trying to take your money. The latest scam comes in the form of a student loan forgiveness email.
The email, targeting college graduates, appears to come from companies promising to reduce payments through a loan forgiveness program.
Barry Moore, with the Better Business Bureau, said students are told the company can consolidate their loans at a very low interest rate.
“We might even be able to forgive some of the debt because of the COVID-19 government money that’s coming,” Moore said scammers explains. “That may apply to your student loan. ‘Oh really,’ says the student who is looking at $60,000 in loans. ‘What do I have to do?’ ‘You need to fill out these forms and let us speak to your lender on your behalf. Let us represent you, as well as thousands of other students.’”
Moore said filling out the forms gives scammers the access they need to take your money. He said if you need legitimate information about consolidating your student loan, or have issues with the loan, it’s best to contact the U.S. Department of Education through its website.
You can also contact your college or university.
The BBB also features a Scam Tracker option on its website, so you can protect yourself.
Depend on CBS 6 News and WTVR.com for the most complete coverage of the COVID-19 pandemic.
COVID-19 Precautions
Most patients with COVID-19 have mild to moderate symptoms. However, in a small proportion of patients, COVID-19 can lead to more severe illness, including death, particularly among those who are older or those who have chronic medical conditions.
COVID-19 spreads primarily through respiratory droplets produced when an infected person coughs or sneezes.
Symptoms include fever, cough, and difficulty breathing. Symptoms appear within 14 days of being exposed to an infectious person.
Virginia health officials urged the following precautions:
- Wash your hands often with soap and water for at least 20 seconds.
- Use an alcohol-based hand sanitizer only if soap and water are not available.
- Avoid touching your eyes, nose, and mouth.Cover your mouth and nose with a tissue or your sleeve (not your hands) when coughing or sneezing.
- Clean and disinfect frequently touched objects and surfaces.Stay home when you are sick.
- Avoid contact with sick people.Avoid non-essential travel.