ABC News Exposes ‘Ghost Student’ Loan Scam
ABC News exposes stolen identities fueling a massive student loan fraud.
On January 28, 2026, ABC News released a video exposing a national ‘ghost student’ scam that has cost millions of Americans. The investigation details how fraudsters use stolen identities to create fake student records and then submit them to federal student loan and financial‑aid programs. By forging applications and falsifying transcripts, the scheme has enabled thousands of bogus borrowers to receive up to $2 million in illicit federal loan money. The FBI and Consumer Financial Protection Bureau are reportedly working to shut down a network traced to Texas and Florida, with more than 300,000 fraudulent applications uncovered in the first 12 months. The report urges victims to file complaints and cautions schools to verify applicant credentials more rigorously.
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