Be Vigilant For Scammers If You’re Seeking To Have A Loan Forgiven

Statewide Iowa — Iowans who hope to get their student loan forgiven need to be wary of people and organizations offering to process their claim.

Consumer protection advocate Michelle Reinen says con artists have quickly jumped on the Biden Administration’s loan forgiveness plan and they’re using it as bait.

Reinen says you should always be wary of links you receive an unsolicited email.

If you’re wanting to check in with your lender about having the loan forgiven, go directly to the source.

Under the federal plan, single borrowers who earn less than $125,000 per year, or households earning less than $250,000, are eligible for $10,000 in loan forgiveness. Borrowers who fall under the income caps and received Pell Grants in college will receive up to $20,000 in forgiveness. Contact your lender directly for full details.



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