If you have stepped into any retailer, back-to-school is heading out and Halloween, Thanksgiving and even Christmas are headed in, but students are just starting classes and this means fraudsters are ripe with new material, at least for the time being.
Be sure to protect your students and yourself by educating everyone about the most common scams targeted at students and parents alike.
- Imposter scams. Imposter scams take many forms. One tactic used during back-to-school to get students’ personal information are phishing emails that claim to be from a school’s “Financial Department” or “Athletics Department.” These emails lure students in and ask them for personal information that is “necessary” for them to continue classes, play on the team, etc. Be sure your students validate the need to provide information to specific departments, sports, or clubs before providing it via email or website. The conversation should occur through the typical channels used by the students and not the email communication they received.
- Fake credit cards. Specifically targeting college students, first credit card offers can be incredibly tempting. Not only can this leak personal information to fraudsters, but it can also impact their credit. Ensure your students are educated on the potential for scams in this space and make sure that if they do open a credit card, they are using resources to verify that the offer is from a reputable financial institution and is a legitimate offer.
- Too-good-to-be-true apartment listings. Affordable rent, close to campus, sounds convenient, right? It’s tempting to jump at the opportunity to snag a great deal, but locking this great spot by providing a credit card could unlock your information to a scammer eager to go on a shopping spree. Whenever looking for an apartment, it’s important to view the space before any money transfer. This goes for Craigslist ads and any social media posts referring to a great location or an individual looking for roommates.
- Scholarship and grant scams. Students and parents should be prepared for scam phone calls from companies offering lower loan payments or large grants to offset college costs. Be sure to thoroughly research and review any company offering to lower loan payments or provide grants to help with college expenses. Contacting the school’s financial aid office for advice and information is a great way to prevent falling for a scam like this.
- Test prep scams. Emails offering assistance for students who are concerned about passing an exam or test are another place rife with scams. Once a student responds to a scam email requesting assistance, the scammers use the messages exchanged to blackmail students into sending funds out of fear of being expelled for cheating. Ensure your students are aware of this potential scam that could be long-lasting and cause significant impact.
Students today are considered some of the most tech savvy individuals, but even the most tech savvy person can be taken advantage of by scammers. Educating students on the scams targeted towards them is the first step in prevention. One in five adults fell victim to a scam last year, according to the FBI’s 2024 Internet Crime Report. The average scam cost individuals $19,000 and in 2024 internet crimes cost Americans over $16 billion. Don’t let your student become a victim. Share this article today.
