How It Works
Scammers contact students or graduates claiming to represent a government or "official" loan forgiveness program, offering to waive or consolidate education loans for an upfront fee. Genuine loan forgiveness programs never charge a fee — and these "services" usually just take the payment and disappear.
Real Example
An email claims you qualify for a special "education loan waiver scheme" and that paying a ₹3,000 fee will get your remaining loan forgiven within 30 days. No legitimate waiver works this way.
Red Flags 🚩
- Unsolicited contact about loan "forgiveness" or "waiver" programs
- Requires an upfront fee to process the waiver
- Uses official-sounding but unverifiable agency names
- Promises forgiveness amounts or timelines that seem unrealistic
Protection Steps 🛡️
- Genuine loan forgiveness or waiver programs never charge a processing fee.
- Check directly with your bank or the official education ministry/loan provider.
- Be suspicious of unsolicited emails or calls about your specific loan.
- Never share your loan account details with unverified callers.