As the federal government announced this week it was writing off student loan debt for former students of WyoTech and other Corinthian Colleges schools, the Pennsylvania Higher Education Assistance Agency is warning of potential scammers targeting other student loan borrowers.

According to PHEAA, one such scam claims there are new student loan rules that require immediate action, promising unrealistic amounts of loan forgiveness, shortcuts to forgiveness, or trying to get the borrower’s federal student aid identification code or other personal information. He then rushes his victims to pay immediately. The agency says scammers often use the name and seal of the US Department of Education to give it a false appearance of legitimacy.

There’s another scam warning today, from the Pennsylvania Department of Military Affairs and Veterans Affairs, that says VA retirement benefits are being targeted.

DMVA says scammers charge veterans or their beneficiaries for assistance in applying for or submitting claims for VA pensions. This often involves financial tactics such as hiding assets in trusts or annuity products, sometimes resulting in the loss of investments and lucrative fees paid to the advisor.

Veterinarians and their attorneys should never share their VA login information or deposit VA benefits directly into a third-party bank account, unless the individual is court-appointed or a VA-accredited trustee, and never pay for forms or for submit applications or other documents for the promise of eligibility for an annuity or to receive a lump sum payment on an annuity.


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