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Student loan borrowers targeted by scammers

Posted at 8:13 PM, Sep 09, 2022
and last updated 2022-09-09 21:13:18-04

CORPUS CHRISITI, Texas  — The Federal Trade Commission reported on a debt-relief scheme operating under the name "Student Advocates" stole over $800,000 from student loan borrowers.

At Texas A&M-Corpus Christi, the Student Financial Aid Office is aware of these types of scams.

Assistant Director of Financial Aid Maria Serna said they're working to educate the entire community on student loan debt relief information

"Your student loan service will never ask for your social security number over the phone. They will never email you and ask you to provide sensitive information over the computer,” Serna said.

Derrick Sullivan graduated in 2020.

He tells Action 10 News he avoids answering any unknown calls or emails.

"I'm not getting news from anyone else. Straight from the horse's mouth,” said Sullivan.

Sullivan added the opportunity to have his debt of over $20,000 erased is a life changer and he's careful not to lose it.

"Being prepared and being aware so you don't get scammed,” he said.

For student loan borrowers with questions on the new forgiveness program, the Better Business Bureau warns scammers are taking advantage of any confusion.

To avoid a student loan forgiveness scam, be sure to understand the ins and outs of your specific loan, as well as how student loan relief impacts you.

If someone claims to be a government representative, do some research before you agree to anything.

Tips Derrick Sullivan has followed.

Now, he's waiting to hear directly from the Department of Education.

"When the application drops. It’s going to go straight to my email. On the home screen, all I have to do is fill out and sign,” he said.

The Island University has resources online to educate people on student loan forgiveness.

You can get more information here.