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Thieves are always looking for new ways to rob you. They often send phishing emails trying to trick you into clicking on malicious links that install malware on your device or steal credentials.
More daring criminals will even dare to call you on the phone. They will deploy an elaborate scheme hoping to extort money from you. If you’ve fallen for a scam, you need to take immediate action. Tap or click here to learn more.
In this report, we’ll cover a few things you need to know. First, an education technology company left its database unsecured so that anyone could see its data. Next, scammers try to pay off your student loans to try and scam you. Keep reading to find out everything you need to know.
A “careless” approach to cyber security
Studying for your dream career is a daunting task, and most students need all the help they can get. Education technology company Chugg is one such institution that provides homework help through an app.
During registration, you have to answer a few questions and the data is stored on Chugg servers. In theory, the data should be protected, but the Federal Trade Commission (FTC) accuses Chugg of carelessness.
According to the legal complaint, the company released login credentials to several employees and some third-party contractors. This means that anyone with these credentials had full access to some of the company’s databases. It was an open door for outsiders.
The FTC alleges that Chegg’s former contractor used the data to access information in an Amazon Web Services database. The information contains the names, email addresses and passwords of about 40 million users.
According to the New York Times, details about the students’ religion, sexual orientation, disability and parents’ income were also taken. Some of the exposed data was found for sale online. Chugg is working with the FTC to resolve the issue for affected users.
Student loan fraud
The next thing you should be aware of is the complicated scheme that involves the recent student loan forgiveness program. Several victims told the Better Business Bureau (BBB) about the scheme.
Here’s how it works. You receive a call from someone claiming to be a student loan forgiveness program.
In many cases, scammers have a lot of information they shouldn’t have, including the last four digits of your Social Security number, date of issue, and email address. One victim even reported that the thieves had their FAFSA account information. Oh!
A fraudulent representative claims he can help you with student loan forgiveness. They even go so far as to claim they can get you up to $60,000. This is significantly more than a legitimate program offers, so that should be a red flag. But some fall for it.
According to the BBB, scammers claim you must make a down payment to receive student loan forgiveness. The fee is usually a few hundred dollars spread over several months, followed by smaller monthly payments. Your loan will then be forgiven when the current pause in the loan forgiveness program ends.
But don’t fall for it. This is a scam! You do NO must pay a formal student loan forgiveness plan fee. If someone calls and asks for a fee, hang up immediately!
There are more ways to outsmart these schemes. BBB gave some ideas.
How to Avoid Student Loan Forgiveness Scams:
- If in doubt, contact the state authority directly. If you receive a message that seems legitimate, but you’re not sure, stop communicating with the person who contacted you. Then verify their claims by contacting the government agency they represent. To learn more about the Student Loan Forgiveness Program, visit ED.gov or StudentAid.gov.
- Never pay for a free government program. Government agencies will never ask you to pay to use a free government program. Don’t let scammers convince you otherwise. Scammers may say the fee will get you help faster or unlock additional benefits, but that’s all part of the scam.
- Think twice about unwanted calls, emails or texts. Usually, government agencies will not contact you unless you ask. An unexpected connection is a red flag.
- Don’t fall for scare tactics. Be wary if someone claims that you will lose something if you don’t act immediately. This urgency is a typical scam tactic for victims. Instead of responding, hang up until you’re sure they’re telling the truth.
If you come across a student loan forgiveness scam, please report it. By sharing your experience at BBB.org/ScamTracker, you can help others avoid becoming victims.
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Student loan scammers also prey on people WITHOUT loans
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