Pres. Biden carved out a warning for eligible borrowers: Be wary of increased scam attempts, which prey upon people desperate to have their school loans forgiven.
, the Federal Trade Commission said scammers were already "on the move" one day after the application's official launch -- trying to get borrowers' money and personal information.
released on Oct. 5, where his administration advised against student loan scam attempts that had begun even before he announced the cancellation policy.Maddie Meyer/Getty Images "At least in a general sense, student loan debt relief complaints appear to be going up this year as opposed to last year," Grajales said, noting findings from the FTC network. She said that was "also continuing kind of an upward trend from 2019 and 2020."Tech Transparency Project, a nonprofit organization that monitors tech companies, released an investigation in July, before the Biden administration had even announced its forgiveness policy.
"This change shows that Google is clearly capable of more effective enforcement. The question is why that effective enforcement didn't come until there was a very public warning about these types of scams from the highest level of government, and why Google's action against companies profiting from those scams isn't the status quo," Paul said.
Grajales said the agency's chairwoman, Lina M. Khan, has met with senior officials at other agencies to coordinate reducing scam attempts.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Student loan forgiveness application website goes livePresident Joe Biden has officially kicked off the application process for his student debt cancellation program
Read more »
Applications open for federal student loan debt forgivenessBorrowers can now sign up for the President’s student loan forgiveness as the application has finally been released.
Read more »
Student loan forgiveness application website goes livePresident Joe Biden has officially kicked off the application process for his student debt cancellation program.
Read more »
Applications open for federal student loan debt forgivenessPresident Joe Biden encourages borrowers to sign up for student loan forgiveness
Read more »
Student loan forgiveness application website goes livePresident Biden has officially kicked off the application process for his student debt cancellation program. studentloanforgiveness studentloans kprc2 click2houston us
Read more »
WATCH: Biden spells out 'D-O-T' while reading name of website in teleprompter gaffeWATCH: President JoeBiden spells out 'D-O-T' while reading name of website in teleprompter gaffe
Read more »