William B. Ford Act - A Student Loan Scammers Favorite Phrase

If you've heard the phrase: William D. Ford student loan forgiveness... run! While the William D. Ford student loan program is real, many scams use this phrase to hook victims.

Student loan repayment can be a byzantine mess for all 45 million student loan borrowers in the United States. And the confusing web offers scammers a gold mine to trick borrowers out of their hard-earned money.

Posing as legitimate government workers, student loan scammers will use official sounding phrases to lure unsuspecting individuals into their traps. Phrases like “aligned with the Department of Education” or “under the William D. Ford Act” dominate the scamming landscape.

Despite the fancy sounding titles or official sound programs, scam companies are out to make a quick buck without providing any value in return. In this article we explain how to spot an “official” sounding scam, and what to do to protect yourself from scammers.