Good news for student borrowers around the world: The White House has announced a plan to alleviate student loans. There are currently 45 million borrowers in the US with a total debt of more than 1.6 trillion dollars. Many borrowers rejoice at this news and unfortunately so do cybercriminals who see a new opportunity to exploit consumers. The Federal Trade Commission previously issued a warning about student loan scams Due to the Rise in Loan Forgiveness Scams during the pandemic and payment moratorium.
Now that a student loan relief program has arrived, Be awareThe leader in delivering integrated security, privacy, and identity theft protection solutions, has provided proactive security steps borrowers can take to protect their identity, data, and bank accounts in anticipation of student loan forgiveness scams.
>> Check the “sent from” email address
Real loan servicers will send email from their own domain. An easy way to verify authenticity is to ensure that the business email does not come from an address that ends in “@gmail.com” either “@yahoo.com”.
>> Go directly to the source
If you receive a phone call or email that requires action on your part, typically with private information such as a social security number, date of birth, banking information, or more, immediately go directly to the validated website of the business or organization where the message comes from to locate it. a valid phone number or email to contact. If in doubt, go directly to the official loan forgiveness website: www.studentaid.gov.
>> Beware of urgency
Beware of urgent demand through phone calls or emails that require immediate action and disclosure of personal information. “Emergencies” can sometimes cause people to act without fully understanding the request or its implications, making them a common tool for cybercriminals.
>> Install security software on your devices
Security protection, such as Be aware, it will automatically monitor and identify fraudulent URLs in email, text messages, and on the web, and block you from threats that could harm you. Security software will also track if your information is compromised in a data breach.
If you’d like to learn more about student loan scams or how borrowers can protect themselves in online spaces, I’d love to connect you with Hank Schless, Senior Manager of Security Solutions at Be aware.
