Americans hoping to find details of Biden's student loan forgiveness plan are falling victim to online scams. Here's how the White House is trying to protect them.
Since the relief was announced in August, the administration has released very little concrete information about what the application will look like or when it will be released. That vacuum has created an opportunity for scammers: As NPR reported last month, some borrowersstudent loan relief scams and misinformation in text messages, phone calls and emails, and experts say it's getting worse.
In order to hold scammers accountable, the administration plans to increase collaboration between the Department of Education and other federal agencies, including the Federal Trade Commission and the Consumer Financial Protection Bureau. The administration will also share scam complaints with states more frequently, so state attorneys general can act faster to stop scams in their own jurisdictions, and plans to partner with social media influencers on a public awareness campaign.
Student loan forgiveness was ripe for fraud well before the Biden administration's sweeping plans to cancel debt. According to a July report from the Tech Transparency Project,of Google ads that popped up in searches related to student loan forgiveness were fraudulent. And in the last year and a half, the FTC has reached nearly $30 million in settlements for borrowers who were falsely promised relief on their student loan payments.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Joe Biden Caught on Hot Mic: 'No One F*cks with a Biden'President Joe Biden on Wednesday was caught on a hot mic while visiting Fort Myers Beach, Florida, telling a local mayor that 'no one fucks with a Biden.'
Read more »
Biden visits Florida to survey hurricane damage, meet with victims, first respondersPresident Biden pledged that federal, state, and local governments will work together to help rebuild homes, businesses, and lives in Florida after Hurricane Ian.
Read more »
US oil industry mocks Biden after OPEC+ announces production cutsThe U.S. Oil & Gas Association on Wednesday suggested that President Biden is now forced to turn to the U.S. oil industry after tapping out strategic reserves and OPEC+ cut production.
Read more »