| Since most college students are known for not having | | | | has been spammed to countless email addresses, |
| a lot of money, it would seem unwise for a thief to | | | | asking recipients to "contact our security department |
| target them. Still, some people are willing to steal even | | | | immediately". The emails these scammers use can |
| from college students who are already strapped for | | | | look quite official. These tricks have worked before, |
| cash. Thanks to lots of good press in recent years, the | | | | most famously with PayPal and eBay users. |
| many benefits of student loan consolidation have been | | | | What to Watch Out For |
| clearly presented. You can successfully avoid | | | | Student loan consolidation scams also utilize emails, |
| becoming involved in student loan consolidation fraud | | | | mailings, and phone calls that contain the following signs |
| by using some common sense. | | | | of fraud: |
| Student Loan Consolidation Fraud: Social Security | | | | - Impossibly low interest rates |
| Number Scam | | | | - Spelling and grammar errors |
| One scam that people use to commit student loan | | | | - Letters or emails written exclusively with capital |
| consolidation fraud uses emails and phone calls that | | | | letters |
| supposedly come from well established financial | | | | - The address of a company you have never |
| institutions. They contact students, claiming to work | | | | contacted before |
| with student loans. They often ask for background | | | | What to Do If You Have Been Scammed |
| information and sometimes are able to get names, | | | | The first thing you should do if you believe that you |
| phone numbers, and email addresses of students who | | | | have been scammed by student loan consolidation |
| have applied for student loans. These scams will ask | | | | fraud is to right down details regarding your interactions |
| you to verify their information with part of, if not all of, | | | | with the company. Then, contact your creditors and |
| your social security number. | | | | the Better Business Bureau so that they become |
| This scam is not new. For many years a similar scam | | | | aware of the scam. |