Back-To-School Scams to Avoid

Heading back to college is exciting, but also a prime time for scams.

You or your loved ones are preparing for the start of college classes when a variety of back-to-school messages, ads, and phone calls start flooding your inboxes. 

Scholarship opportunities, student loan relief offers, tuition notices – how do you know which information is legitimate? 

To prevent yourself from becoming the next fraud victim, review the following list of common scams used to target students and families during back-to-school season. 

Scholarship and Financial Aid Scams 

Beware of scammers calling to award fake scholarships that you never applied for, fraudulent scholarship websites that collect personal information, and financial aid services that charge you large amounts of money for actions that can be completed for free.  

If an unknown individual/organization is pressuring you to take action immediately, requesting personal information, or sending you an offer that seems too good to be true, listen to your gut and be on guard. 

Never send money or give your personal information or bank account details to someone before ensuring the legitimacy of the requestor/organization. 

Student Loan and Debt Relief Scams 

Scammers will often ask for upfront or monthly fees to “immediately” and “completely” cancel student loans. They may lure you with false promises, including fake loans, and then divert payments into their own accounts. 

In reality, most legitimate government forgiveness programs require years of qualifying payments and/or employment in specific fields to be a candidate for loan forgiveness. 

If you receive a message about student loans and are unsure if it’s a scam, look for spelling and grammar errors, check the sender’s email address or phone number, and be on the lookout for other suspicious red flags. Contact your loan provider directly to ensure legitimacy. 

Imposter Scams 

Imposter scams involve a fraudster pretending to be someone familiar and trustworthy to trick the victim into sending money. 

Fraudsters may try to mask themselves as school officials and demand you send them money for late tuition or other payments to avoid suffering consequences. They may even use caller ID “spoofing” to make it appear as though they’re calling from a known phone number.

If you receive one of these messages, do not respond and instead verify the claim by contacting the organization directly using an official phone number found on their website. 

“New to Campus” Scams 

These scams are often pitched to new college students as a form of legitimate “employment” or an opportunity to “make a quick buck.” The student will usually be approached to share access to their account (hand over a debit card and PIN, provide online banking credentials, etc.) and to perform a transaction. Often, the student will be allowed to keep a portion of money from the activity, and the fraudster takes a larger cut. 

The fraudster typically assures the student that this is all legal, legitimate, and that they’re either doing a job or helping a new “friend.” In other circumstances, the fraudster may be more forthcoming that they’re using their account for fraud and tell the student they can dispute the activity with their financial institution. 

In either scenario, the student is the one who will be left in the negative and may even be arrested for larceny. When a complaint is made to the police, the student could end up with a criminal record, attorney fees, fines and possibly probation or even jail. Protect yourself by reporting suspicious requests, utilizing official job posting sites, and verifying the legitimacy of all job opportunities. 

We’re Here to Help 

If you think you have been a fraud victim and are not sure what to do, contact the Broadview fraud team. We’ve got your back. 

To learn more and protect yourself from scammers, explore our Security and Fraud Prevention resources. For safe and secure college financing assistance, check out College Bound.