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For over three years now, federal student loan repayments have been suspended due to the global pandemic. However, with the Supreme Court of the United States’ recent announcement, student loan repayments are to resume  beginning in October of 2023. The majority of student loan borrowers are now aware of this decision—but you know who else has paid attention to the news? Scammers. 

Scammers love to take advantage of confusion around major news like this. As many borrowers begin to make student loan repayments, we want you to be aware of the following potential scam tactics: 

1. Loan Repayment Assistance 

Scammers are using their usual tactics of robocalls and texts. According to the Federal Trade Commission, there has been a rise of scammers impersonating companies that offer student loan repayment assistance. At ORNL Federal Credit Union, we understand that many borrowers may be worried financially about their student loan repayments. However, you should never pay for help with student loans. For student loan assistance, you can go to If your loans are with private lenders, go directly to your loan servicer for assistance. 

2. Asking for your Federal Student Aid ID Login Information

If you are asked to share your FSA ID login information, it is more than likely a scam. If you share this private information, the scammer can cut off communication between you and the loan provider. Even worse—they could use your private information to steal your identity. 

3. Promising Debt Relief or Student Loan Forgiveness

At ORNL FCU, we expect a rise in scammers pretending to offer student loan borrowers debt relief or loan forgiveness. Scammers will do everything in their power to impersonate an official organization. They will present an official looking name, logo, website, etc. However, at the moment there is no simple way of student loan forgiveness or debt relief. If you receive a call, text, or email from someone stating these false claims, just hang up or do not respond. If you are not sure, log onto your student loan provider account and view your options there. 

4. Prepare for Repayment 

To prevent any confusion, the best method is to prepare for student loan repayment. Make sure you know who your student loan provider is. You can view this on your Federal Student Aid account dashboard. In order to receive repayment info in a timely manner, make sure your contact information is current. Lastly, enroll in the repayment plan. FSA offers a loan simulator on their website that helps you estimate your monthly payments and compares repayment options. 

If you have any financial questions or are not sure where to start when it comes to finding the right financial institution, please contact us. We would be happy to help! 

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