Federal Trade Commission issues warning to student loan borrowers

Author: The Black Jew Wealth Coach

Key Points:

• The Federal Trade Commission (FTC) warns about potential scammers targeting federal student loan borrowers.
• Scammers might use calls and texts to offer “help” as student loan payments resume in October.
• The FTC advises borrowers to be vigilant and avoid sharing sensitive information with unknown parties.

Hot Take:

As federal student loan payments are set to resume in October, it is crucial for borrowers to remain cautious and vigilant. The warning issued by the FTC showcases that scammers see this moment as an opportunity to take advantage of borrowers in need of assistance. It is important for borrowers to double-check the legitimacy of any offers, specifically those coming through unsolicited calls or text messages. Sharing sensitive information with unknown parties can lead to devastating financial implications, so being mindful of potential scammers can help protect your financial well-being. Stay informed and keep an eye out for red flags as we navigate through the student loan payment resumption process.

Original article:https://www.cnbc.com/2023/09/15/student-loan-borrowers-at-risk-of-scams-as-payments-restart-says-ftc.html