With Student Loan Forgiveness in Legal Limbo, Scammers Pounce

A federal judge struck down President Biden’s student loan forgiveness plan on Nov. 10. The ruling is being challenged, but that hasn’t stopped scammers eager to capitalize on borrowers’ confusion and frustration.

Scams targeting Americans impatient for debt forgiveness surged in the first 10 months of 2022, according to the Federal Trade Commission. The agency received 76,000 complaints of scams related to student loans through the end of October, compared with 46,243 for all of 2021.

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