According to reports, 42 million people owe US$1.3 trillion in student debt in America today. With most of these student loans being government-backed, the student debt industry in America is big business and estimated to be worth $140 billion annually.
Scammers globally have been quick to take advantage of the desperate plight of graduates struggling with student debt by preying on them with seductive offers, such as student loan forgiveness. In recent research into the activities of the Ascesso (aka Tofsee) malware family (Trojan.Ascesso), Symantec observed several spam runs attempting to send out thousands of student loan forgiveness scam emails.
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