The text promises loan forgiveness, a lower payment, or says your account will be sent to collections unless you “verify” on a link. Real federal loan tools live on sites you open yourself (like StudentAid.gov) — not a surprise SMS with a countdown.
"Student Loan Alert: You may qualify for $10,000 forgiveness. Verify your account in 24 hours or lose eligibility: student-aid-forgive.com/apply"
5 signs it’s fake
- Unsolicited forgiveness with a deadline
- Asks for FSA ID / password on a random page
- Upfront fees to “process” forgiveness
- Threats that don’t match your real loan app
- Lookalike domains that aren’t the official site
What to do instead
- Don’t tap the link. Don’t pay a “processing” fee from the text.
- Open your real loan servicer app or type the official site yourself.
- Paste the SMS into ScamCheck.
- If you typed a password, change it on the real site and turn on extra login protection.