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New scam targets students trying to pay off student loans

The scammers claim that if the person makes three payments of $300, their student loans will be forgiven.

WESTMINSTER, Colo. — You know what they always say - if it sounds too good to be true, it probably is.

A new scam is targetting students who think they are getting a great deal to forgive student loan debt.

"Scammers have gotten really wise in how to deceive people," said Bobbie Harbert, the Financial Aid Coordinator for Front Range Community College's Westminster campus. "We always talk to students about watching out for scams." 

Over the past few weeks, she said students have gotten calls with an unbelievable offer: if they make three easy payments of $300, all of their student loans will be forgiven.

"Students are aware that they do have student loans, so then they begin to believe that this is a legitimate call," Harbert said.

She said some students are giving out their personal information in addition to their cash.

"They can be convincing," Harbert said. "We had a student that experienced that exact situation, but that student was smart enough to give us a call and say, 'this is just what happened to me'."

The same thing is happening to young students across the nation, Harbert said.

Harbert said the biggest red flag is the phone call itself.

"If you are going to do some type of loan forgiveness program, you actually as a student have to initiate that yourself," Harbert said. "No one is going to call you and say we're going to forgive your student loans."

If you have any doubts, Harbert said to contact the financial aid office of the school you attended.

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