In today’s world scams are common.You can see unscrupulous people trying to get you to give them money or personal information and scam you as if they are the real thing.
In fact, student loans are no stranger to such scams. Go ahead and click here to read the full article about student loan scams.
Student loan scams
Who will be targeted
As we all know, the economy is notdoing that well, and many students who wish to go to college will have no choice but to consider taking a student loan to pay for their accommodation, expenses and tuition fees.
You will find many of these students receiving phone calls from telemarketers or brochures in the mail, offering the best solution ever, They will get a student loan which may not carry any interest or may be waived off, etc. However, unsuspecting victims of such scams think that the offer is fantastic, and they decide to go for it and end up in trouble.
How the scammers find you
If you have ever entered your email, address and telephone number in an opt-in form, an online application you may end up getting calls or emails from such people trying to scam you. They will talk with you, and they will make you believe that they are, in fact, actual people from real companies and that they can help you get a student loan as long as you pay them something for the processing.
How to identify and avoid student loan scams
1. If it is too good to be true, it probably is.
2. List your telephone number in a DNC (Do not Call) list. It is against the law for telemarketers to call you if you are on this list.
3. If a telemarketer does call, politely hang up and do not stay on the phone.
4. If you get unsolicited emails from loan companies, immediately delete them and add them to the blocked list.
Scams are rampant, and they can ruin a person’s hope and even a person’s financial status. Always do face to face business with a loan provider and only check out student loan providers that are recommended by the educational institution you are attending.
We all know that it is hard to pay your way through college without a loan. However, we must be cautious and not allow ourselves to get tricked by these scammers.