Juan Algar | Moment | Getty Images<\/p>\n<\/div>\n<\/div>\n<\/div>\n
Student loan payments are restarting<\/a> in October after a pause of more than three years<\/a> \u2014 and scammers are trying to take advantage, the Federal Trade Commission warned.<\/p>\n Fraudsters may try mislead borrowers by offering assistance and asking them to pay for it, Ari Lazarus, consumer education specialist at the FTC, wrote in a consumer alert<\/a> Thursday. Those fake offers might include lowering borrowers’ monthly payments, avoiding repayment or getting their loans forgiven.<\/p>\n “Worried about repaying your loans? The calls and texts that offer ‘help’ might be tempting,” the alert said. “But before you act, know how to spot the scams.”<\/p>\n More from Personal Finance:<\/strong> The suspension of federal student loan payments began<\/a> in March 2020, one of many tranches of government aid meant to alleviate financial pressures on households at the onset of the Covid-19 pandemic<\/a>.<\/p>\n The pause<\/a> has since been extended<\/a> eight times, twice by the Trump administration and six times by the Biden administration. Interest on federal student debt was also suspended during this period but started accruing again<\/a> on Sept. 1.<\/p>\n
<\/br>Some student loan holders may be able to tap 529 plans<\/a>
<\/br>First Frisco school savings account holders head to college<\/a>
<\/br>The biggest downside to 529 plans is about to go away<\/a><\/p>\n