Overview
Scammers are charging upfront fees for free government student loan forgiveness programs and stealing Federal Student Aid login credentials from borrowers.
Expert Analysis
GetCyberRight Analyst Assessment
This analysis was prepared by our security team based on verified threat intelligence and official sources.
With ongoing changes to federal student loan programs, scammers are exploiting confusion by charging $200-$1,000 for 'processing fees' to apply for programs that are completely free at studentaid.gov. Some scammers ask for FSA ID credentials, which gives them full control over the victim's federal student aid account. The FTC and Department of Education have issued multiple warnings.
Indicators of Compromise
tactic
Guaranteed immediate loan forgivenessNo program offers guaranteed instant forgiveness
tactic
Upfront fees for government program applicationsFederal programs are free to apply
What You Should Do
1
Apply for student loan programs only at studentaid.gov
2
The government never charges fees for forgiveness applications
3
Never share your FSA ID with any third party
4
Your official loan servicer is at studentaid.gov/manage-loans
5
Report student loan scams to the FTC at reportfraud.ftc.gov