08/26/2026
Scam activity spikes when loan news is in the headlines and with SAVE ended and the new Repayment Assistance Plan rolling out, millions of borrowers are getting legitimate letters about switching plans. Scammers are using the confusion as cover.
Red flags: Upfront fee to "erase" your balance. Requests for your FSA ID or SSN. Pressure to act immediately or guaranteed eligibility.
Truth: You never have to pay to manage federal student loans. Forgiveness and repayment enrollment is always free and done at StudentAid.gov or your servicer, never a paid third party. If it's rushed or asks for money first, stop and call your servicer's official number. If you've experienced a student loan forgiveness scam, visit ReportFraud.FTC.gov.
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