Be alert.

Unfortunately, situations like the recent pandemic and the potential student loan forgiveness program present an opportunity for cyber criminals and other bad actors to take advantage of public concerns. Be aware of potential scammers attempting to impersonate or "spoof" authorities such as government or public health officials or agencies. Always exercise caution before engaging with someone seeking information from you.

A new wave of scammers is targeting federal student and parent loan borrowers with a variety of promises for borrowers and convincing people to pay them for information or help that is free. VSAC is teaming with Vermont's Attorney General to ensure that no Vermont borrowers fall prey to these scams.

A company may be trying to scam you if they:

• require you to pay up-front or monthly fees for help.
• promise immediate and total loan forgiveness or cancellation.
• ask for your FSA ID.
• ask you to sign and submit an authorization form or a power of attorney.
• claim that their offer is limited and encourage you to act immediately.
• send communications that contain spelling and grammatical errors.

Some things to remember:

1. Never pay a fee for help.
2. Keep your FSA ID private.
3. Watch out for fake government seals or logos.
4. Never share sensitive personal information like your Social Security number.
5. Avoid “debt relief” companies that advertise anywhere, including social media.
6. Call us if you have questions.  

If you believe you may have received a scam call, contact the Attorney General’s Consumer Assistance Program by calling 800-649-2424 or by e-mailing AGO.CAP@vermont.gov. 

VSAC counsels borrowers. For free. Our financial aid experts walk you through your loan terms, advise you on repayment plans, and much more. For questions about student loans, contact us at 888-802-8722 or email us at info@vsac.org.

You aren’t alone on this.

Next: VSAC Student & Parent Loan Details >