If you owe thousands of dollars in student debt the sound of debt reduction sounds good but it appears scammers have been making false promises. Now there is a nationwide crackdown by the FTC which they are calling the "Game of Loans"!
Major crackdown on student loan scammers
KGUN9 Reporter, Jennifer Martinez
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TUCSON (KGUN9-TV) - The sound of student debt reduction sounds good to the 42-million Americans paying off their education. Unfortunately, it appears scammers have been making false promises to people paying off their loans.
But now, a nationwide crackdown is to tracking down those scammers.
The Federal Trade Commission and multiple law enforcement agencies are working together to stop scammers from stealing money from people paying off student loans.
The initiative, operation "game of Loans" will look into cases that include illegal upfront fees, falsely helping in reducing or forgiving student loan debt burdens and pretending to be affiliated with the government or loan servicers.