August 2023
Fraud Alert

Beware of Scams Targeting College and Graduate Student

It is back to school season! Many college students will be starting a new chapter in their lives in the upcoming weeks. With this new chapter comes responsibility and the freedom to make choices on their own. College students and their parents need to be on the lookout for potential scams that are targeting these young adults as they start to explore this new freedom!

Here are some of the scams to look out for:

• Student Financial Service Scam: There are many types of scams that pose as legitimate offers for scholarships, grants, and financial aid services. The student is contacted by telephone, mail, or email with a great offer. Then, the student is asked to provide personal information or pay upfront fees to proceed. These fees are usually paid by gift card or money wire.

• The Unpaid Tuition Scam: The scammer contacts the student or the parents claiming that the tuition bill has been unpaid, and that payment needs to be made immediately without affecting the student’s enrollment. Before you run off and make a payment, call the school’s financial aid office, and verify if this is true. The school would most likely send a paper bill before calling and threatening immediate payment.

• Online Income Scam: Scammers prey on college students promising them a job online and ways for them to make quick and easy money. The company will either ask the students for money upfront or send them a check for their work and ask them to send a portion back to the company.

• Buying Books Online Scam: Scam artists set up fake websites and offer great deals on expensive textbooks only to never deliver the textbook and leaving the victims out of money as well as not getting the textbook they ordered.

• Roommate/Rental Scam: The scammers normally pose as an individual renting a property or as a property management business. Potential renters are then solicited for money in exchange for promises that the homes will be rented to them upon completion of their payment. Then, once the payment is received, it becomes clear that there is in fact no home for rent or that the property is already occupied.

These scams can be prevented. Here are some tips to remember:

• Be sure to speak with someone from your school before making payments on a supposed unpaid bill or offering information on a loan, grant, scholarship that is being offered.

• Completing financial aid forms, especially a FASFA form, does not cost anything to fill out.

• Research thoroughly into any business before providing personal financial information or credit card information. Make sure that the website is a secure website (https://).

• Do research, talk to friends/family and school officials to learn more about how to protect yourself or your loved one from a scam.

• Never give your personal information to anyone who contacts you out of the blue.

If you believe you have been a victim of a scam, report it to your local police immediately, contact your bank or credit card company, and file a complaint with the Bureau of Consumer Protection.

 If you have questions, please contact us.

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