Learn about common scams targeting college students and how to protect yourself against them.
Heading off to college can be a time of excitement, filled with new experiences and new friends. It can also be a time of fear and anxiety as young people are often beginning to chart their own course into adulthood. Whether you are a new student or a returning student, there are plenty of scammers just waiting to teach you some of life’s harder lessons. But with a little bit of information and a healthy dose of caution, you can avoid becoming a scam victim.
The website Best Colleges.com provides the following information on eight scams targeting college students.
Figuring out scholarship opportunities and financial aid can be confusing and overwhelming. Free scholarship and financial aid help is available from many sources, so be wary of any services that charge high prices to help you with your applications. Steer clear of scams by completing your financial aid application on the official Free Application for Federal Student Aid (FAFSA) website.
When searching for scholarship opportunities, check that a website is credible. Fraudulent scholarship websites are sometimes set up to collect personal details for future scams. Be wary of giving out your bank account information and never give out personal information over the phone unless you initiated the call with a reputable organization.
College students seeking full- or part-time employment can become targets of employment scams. Always do your research before applying for a job and providing important personal or banking information. If any job asks for an upfront payment or personal information, don't give it to them. You should never need to pay for employment.
Be cautious of unsolicited emails, texts or direct messages advertising or offering you a job. Search the internet for the company name to see if it seems credible. Adding words like "scam" or "fake" to your search may be helpful. Stick to applying for job listings hosted on reputable sites. Any job offer that seems too good to be true could be a scam.
The U.S. Department of Education offers several legitimate student loan forgiveness programs. However, keep in mind that federal programs never ask for a fee to complete any forgiveness paperwork. Forgiveness programs that do charge fees are a scam.
When looking into student loan forgiveness programs, stick to student loan websites operated by the federal government. Only these can forgive your federal student loans. Don't give your personal loan information out — especially your student aid ID or password — and don't pay anyone for help with forgiveness programs.
Scammers may also falsely promise to pay down student loan debt and lower your monthly payments. As enticing as it sounds, anyone who offers you instant loan forgiveness is running a scam.
Some credit card solicitations are simply veiled attempts at identity theft, providing scammers with access to your personal information. Other credit card scams involve real credit cards, but the credit cards are misrepresented. Avoid falling for misleading credit card offers that have unfavorable fees, terms and/or interest rates.
Don't fill out unsolicited credit card offers or provide personal information on credit card offers you didn't seek out. Instead, apply for a credit card through your current bank or credit union. Do your own research and always read the full terms and agreements before signing. You can also explore the option of becoming an “authorized user” on a parent’s or guardian’s account and piggybacking on their credit history.
Some scammers use enticing apartments as a way to steal your money or get personal information. The most common housing scams targeting college students list an apartment or home as available when it isn't. Scammers may convince you to pay a fee, a deposit, or the first month’s rent without you ever seeing the apartment or home.
If a listing seems too good to be true, it probably is. Never pay a fee, deposit, or rent without seeing the interior and exterior of an apartment. Conduct research online, searching the specific address of the apartment or home you're interested in. You can also drive by the listing to see whether it really appears to be for rent.
College textbooks are expensive. Many students try to cut costs by buying their textbooks used or by trying to find websites that offer cheaper prices than the university bookstore. Scammers take advantage by creating fake textbook sites, and victims may purchase textbooks that never arrive. Digital downloads can also be subject to scams. Students interested in digital downloads need to make sure they aren't buying a fake code and that they aren't downloading malware onto their computers.
The easiest way to avoid textbook scams is to purchase your textbooks through your university bookstore or the publishing company associated with the textbook. Many university bookstores offer buy-back programs at the end of the semester so you can also get used books at a lower cost. Additionally, some campus libraries keep textbooks on hold that you can check out for several hours at a time.
Completing your homework assignments anywhere with public Wi-Fi sounds enticing, but be wary of scammers using public Wi-Fi to steal your information. Hackers may exploit security flaws on public Wi-Fi routers to gain access to your personal, financial or banking information.
Along with hacking an existing public Wi-Fi network, scammers may create their own fake hot spots. These fake hot spots often have believable names, leading potential victims to believe the hot spot is the actual Wi-Fi of the establishment.
When using public Wi-Fi, never access your banking accounts or student loan information. Avoid using a credit card or making purchases over public Wi-Fi. Try frequenting places that have password protected Wi-Fi, and always double-check that the connection is the correct one — especially if several networks have similar names.
Social media scams are becoming more prevalent and more difficult to identify. Some scams may seem obvious, such as ads that claim you're just one click away from a free gift card. Others, like fake personal profiles and business pages, can be more difficult to spot.
A fake personal profile may add or follow you with the goal of phishing for personal information. Profiles tend to be realistic, and you might even have mutual friends. Likewise, fake business pages may sell nonexistent products or collect your email address for future scams or identity theft.
The easiest way to protect yourself from social media scams is to double-check your privacy settings. Make sure you aren't sharing personal information publicly. Don't accept friend requests from anyone you don't know, even if you share mutual friends. And always research businesses and order through official sites instead of through social media whenever possible.
General rules to avoid falling for scams include the following:
