Attorney General Daniel Cameron and the Kentucky Higher Education Assistance Authority are teaming up to warn consumers of a new scam.
According to the Attorney General’s office, scammers will file for a student loan or financial aid using fraudulently obtained personal information including names, addresses, and social security numbers.
Loan identity theft can damage a person’s credit score and make the victim liable for repaying the loan if it is not caught early enough.
To catch these scams in the early stages it is recommended that you monitor your credit score.
For more information and if you believe you are a victim of loan fraud go to the Federal Trade Commission’s website at IdentityTheft.gov. You can also go to the Attorney General’s Website at AG.KY.GOV/scams.