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07/16/2004 Someone Impersonating an ED Official Is Offering Students Grants for a Processing Fee The Department of Education has released an electronic announcement concerning an identity theft scam that is being directed at students with federal student loans. The scam involves a caller who impersonates an official at the Department of Education offering grants to replace student loans. The caller explains that in order to replace the loans with the grants, there is a processing fee. The caller then asks for the student's bank account information to pay the fee. In the announcement (see links below), the Department of Education gives information to students who feel that they have been a victim of the scam. The full text of the announcement can be read at http://studentaid.ed.gov/PORTALSWebApp/students/english/scam.jsp or http://www.NASFAA.org/publications/2004/eaimpersonate071404.html.
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