Student Loan Relief Scams

The U.S. Government recently announced its plan to give citizens up to $20,000 of student loan relief. This plan requires that citizens submit an application to determine if they qualify for the loan. Cybercriminals are taking advantage of this process by using fraudulent applications in their scams.

Cybercriminals send you a phishing email that appears to come from an official federal agency, such as the U.S. Department of Education. This email states that you need to apply for student loan relief and provides a link to the application. If you click this link, you'll be taken to a spoofed application page that asks for sensitive information, such as your direct deposit details. Cybercriminals can use this information to access your bank account and steal your money.