Student loan payments are back and so are the scammers

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ALBUQUERQUE, N.M. — There’s a pretty aggressive robocall going around Albuquerque right now, targeting student loan borrowers.

It comes just in time as millions of borrowers started paying on their student loans again.

“Just a month ago, you didn’t have to pay on your student loans. Now, you have to come up with another $100-200 a month. That’s significant to New Mexico,” said David Swope, president of the BBB New Mexico.

The only thing worse than paying that are bad guys posing as legitimate businesses. Swope says they often try to scam you out of hundreds – sometimes thousands – of dollars.

“There’s one that’s floating out there that actually says to call between 11 a.m. and 7 p.m., in Albuquerque, so they sound super legitimate,” Swope said.

It comes in the form of a spoof call. Their caller ID may even seem like it’s coming from a trusted source.

“They could even have an ID say, you know, the IRS, the federal aid program or anything like that,” Swope explained.

Here’s how you can protect yourself:

  • Know who your loan servicer is and only deal with them directly
  • Never pay for help to manage your student loans
  • If someone asks for money upfront, it’s probably a scam
  • Don’t fall for any quick loan forgiveness

As always, you can report a scam to the Better Business Bureau to help yourself and others.

“We have the scam tracker. [Also,] please reach out and let us know anything that’s going on,” Swope said.

Click here to access the Scam Tracker, where you can report a scam or look up a scam.