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Beware of Student Loan Scams

November 13, 2018

VSAC and Attorney General warn of scammers posing as student loan servicers

Attorney General T.J. Donovan joined Vermont Student Assistance Corporation (VSAC) to warn Vermonters about scams involving student loans. Scammers pose as student loan servicers, debt relief companies, document preparation companies or say that you may be eligible for a student loan forgiveness program.

“My office has received dozens of complaints about these types of scams,” Attorney General Donovan said. “Recent graduates, who are starting to repay their student loans this fall, should be especially wary of potential student loan scams.”

Some scammers will ask for your FSA ID, which is the login and password to federal loan information, and say they can help you for a fee. But student loan help is free for Vermonters. VSAC, a public nonprofit agency of the State, provides advice about student loans for free.

“VSAC wants student loan borrowers to know that we are here to provide expert financial aid assistance to any of their questions as they evaluate the best repayment options,” said Scott Giles, president and CEO of VSAC. “For student loan borrowers, this is especially important as they begin to pay down their investment in their professional future. We thank the Attorney General for his laser focus on protecting Vermonters from deceptive and fraudulent practices.”

If you receive a call from someone offering to help you lower your payments or do the paperwork for you for a fee, hang up the phone. Never provide your Social Security Number to an unknown person over the phone.

If you believe you may have received a scam call, contact the Attorney General’s Consumer Assistance Program at 1-800-649-2424 or by e-mailing For questions about student loans, contact VSAC at 1-800-862-3177.