Senator Erica Conway Harriss | Illinois General Assembly
Senator Erica Conway Harriss | Illinois General Assembly
The Illinois Department of Financial and Professional Regulation (IDFPR) has issued a warning to families with college students about an increase in scams targeting individuals with student loans. This alert comes amid recent challenges to federal relief programs, which scammers are exploiting by offering false promises such as lower rates, loan forgiveness, and requests for power-of-attorney.
A common tactic used by these scammers is creating a sense of urgency for immediate action, which should be seen as a warning sign. Students are also advised to be cautious of claims that the loan servicer is affiliated with the government.
Scammers typically reach out through phone calls, text messages, emails, or physical mail.
Anyone who suspects they have been targeted by a student loan scam is encouraged to contact the Illinois Attorney General’s Student Loan Hotline at 1-800-455-2456. The Attorney General’s website also provides resources for filing complaints.
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