Lincoln residents, student loan borrowers waiting for forgiveness applications, are most recent target to scammers, BBB says

LINCOLN, Nebraska – Regarding your overdue student loan balance, I’m following up.

This message was left for Kristi Cadenbach of Lincoln early this fall by an anonymous caller.

Cadenbach stated, “He made it sound convincing that I need to call him back due to recent developments involving the President forgiving student loans.”

She emailed 10/11 because, despite recognizing that it was likely a fraud, she feared that others would not.

As individuals excitedly await further information about student loan forgiveness, Josh Planos, a spokeswoman for the Better Business Bureau, stated that student loan forgiveness scams are prevalent at the moment.

Planos stated, “Confusion is the ideal breeding ground for a variety of cons.”

More than 230,000 Nebraskans are eligible for up to $10,000 in loan forgiveness, with approximately 136,000 Pell Grant holders eligible for double that amount.

This renders tens of millions susceptible.

Planos outlined several warning signs:

First, whether the caller or emailer initiates contact with you.

“When you receive unexpected phone calls, emails, or text messages purporting to be from the government, hang up the phone and do not answer,” Planos advised. Unless you grant permission, the government will never contact you through this way.

Second, they will place the victim in a high-pressure situation, similar to what the caller said in Cadenbach’s phone call.

The caller stated, “It is imperative that I communicate with you immediately before these programs alter.”

Never pay application or processing fees to apply for a government program.

Finally, seek information from reputable sources, such domains or links from the Better Business Bureau’s website.

Cadenbach stated that she hopes this knowledge will discourage con artists from getting away with such conduct.

“When people are in debt, they are taken advantage of more, and this can snowball into additional debt,” said Planos. It’s depressing and aggravating.

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