Students are getting ready to go to college as the fall semester is fast approaching and scammers have frauds targetting these students lined up. Below are some of the common ones we’ve seen this year.
Imposter Scam
This tactic is tailor-made for college students. They will receive a text message claiming to be from the school’s “Financial Department.” The text states that the student must log in to the school’s website with their credentials for several reasons. The link provided is not the school’s domain and the text message doesn’t mention the school by name. These red flags should put the student on alert. If the victim logs in to the website, their information will be stolen and malware could be installed.
Fake Credit Card Offers
Most college students are bombarded with credit card offers, especially incoming freshmen. They’ve just reached the age where they’re expected to start their journal on fiscal responsibility. To apply, students must provide a lot of personal information, including their Social Security Number. Many of these credit card offers are from legitimate companies but some will be fraudulent.
It’s advised that anyone looking to sign up for a credit card should not respond to unsolicited offers. They should research for the best card that fits their needs and apply directly to the company.
Apartment Listings
If you are in the market for off-campus housing, you’d want to find a place that’s both convenient to campus and affordable. Scammers know this and will place fake apartment listings on platforms such as Craigslist. The apartments shown do not exist, using pictures downloaded from the internet. To apply, renters must provide a lot of personal information prior to seeing the apartment. Once it comes to viewing the apartment, the scammer will disappear with your credit card number and other information.
Scholarships and Grant Scams
With the rising cost of college education, everyone wants a little break. A malicious telemarketer may offer help to reduce student loan payments or guarantee the student receives a grant or scholarship. It’s easy for families with low funds to fall for this tactic. If you’re contacted by such a company, you should research their company online and on websites like the Better Business Bureau. Read reviews and complaints for the company, and ask your college’s financial aid office if they’ve heard of them before. The financial aid office can also provide resources and tips for managing student debt.
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