DATCP Warns Of College Loan Scams

Student loans are being placed on hold while people are out of work during the pandemic, but scammers are trying to use that as a way to get some money.

State consumer protection administrator Lara Sutherlin says they’ve gotten reports of scammers trying to get people to pay ‘application fees’ for their loan stoppage.

“There are no fees associated, there are no applications associated, if you have the eligible loans they will automatically be suspended if your payments aren’t due.”

Sutherlin says scammers might also try to get your login information for your student loan account, so don’t hand that over under any circumstances.