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Consumer First Alert: BBB sees increasing number of scams regarding student loan consolidation

Published: Aug. 29, 2021 at 3:26 PM CDT
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GREEN BAY, Wis. (WBAY) - College students are always looking to save money, but a wave of scam reports should have anyone who is paying off student loans should be extra cautious.

The Better Business Bureau (BBB) of Wisconsin has had an alarming number of reports about student loan consolidation scams.

“We are seeing a whole lot of scam tracker reports - in Wisconsin especially - about false promises to consolidate student loan debt. People are receiving text messages apparently for this,” says Susan Bach of the Wisconsin BBB. “Report those to scam tracker, we’re tracking them very vigilant, we want to make sure people (are) aware of that in the area because it is happening to Wisconsinites. Again, if you are interested, or need to consolidate your student loan debt, go to a legitimate government website, whish is studentaid.gov.”

Another heads up for consumers - be careful about how much you’re sharing online when posting back to school pictures.

Kids holding boards with details about their first day of school could attract more than just friends and family.

Grand Cute police posted a warning to parents to be careful about what they share - too much detailed information might open a door for a scam, or someone who might want to hurt your child.

Travis Waas, a Grand Chute Community Resource Officer, says a predator might say ‘I know you! Your favorite color is blue, and you like doughnuts, and your birthday is April 25. I know your mom!’

“It builds this false sense of security with this person that really should not be around your child,” adds Waas.

Police say that to be safe, don’t share your child’s last name, their grade, school, teacher’s name, or possible security questions in your pictures.

Stick to the basics, such as your child’s first name and the current year.

Some information can be related to passwords, so think before you post, and keep it basic.

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