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Extension Educator Helps Avert a Financial Scam

By Sarah Butler, Extension Educator — Family Resiliency

Last week, I received an email from a woman who was about to be scammed by a so-called student loan forgiveness company. The company told her that if she pays a service fee for her daughter's student loans, all loans would be forgiven. She was going to provide her bank account numbers to this scammer! I was able to talk with her before she did and to give her proper information on what to do next:
  1. Do not give your bank or credit card info over the phone.
  2. Get your daughter to make an appointment with a certified nonprofit credit counselor, like LSS Financial Counseling, that specializes in helping people struggling with student loans.
  3. Your daughter needs to pull her credit report to find out where her delinquent loans are located, and then she can attempt to rehabilitate the loans.
Why am I sharing this with you? Well, this woman lives in Dakota County and looked for help locally. She did a Google search and found my email address and phone number. So between the expertise Extension offers at the local level and the work of the FD Communications Team to keep our website up to date, we saved this woman money, time, and the heartache of being a scam victim.

Editor's note: You can find up-to-date contact information for the entire Financial Capability Team, as well as Family Resiliency, on our website. Something amiss? Contact Hannah Jastram. Have a success story you'd like to share? Contact Hannah Jastram.

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