How to Identify and Avoid Scams That Target College Students
Beginning a college education can be one of the most exciting experiences in a person’s life. However, that excitement can often blind students to the fact that less-than-honorable parties are often looking to exploit prospective learners for their own financial gain. This guide is designed to break down some of the common scams that new and continuing students may encounter during their academic careers, including financial aid and scholarship scams, roommate and housing scams, phone and phishing scams, and online and social media scams. Students can also utilize this page to better understand warning signs that typically accompany these scams and what to do if they have fallen victim to one.
Financial Aid & Scholarship Scams
Funding a college education is often one of the most pronounced roadblocks potential students work against when considering attending school. Fortunately, there are numerous systems of financial support that are designed to make this process simpler so the student may focus less on their finances and more on their education. What students need to be aware of, however, is which of these services are providing their assistance with the student’s best interest in mind, and which are interested in exploiting a student’s eagerness to develop a financially feasible college plan.
What Should You Do If You Fall for One of These Scams?
One of the most important things a scam victim can do is report what has happened. Depending on the scam, these reports may go to different parties. In regards to the Federal Student Tax scam, for instance, students can report the incident to TIGTA; students who are victim to fraudulent commercial financial advice may file a report with the Federal Trade Commission. What is important is being aware of scammers in the future and providing what information you are able to help stop other students from becoming victims.
Roommate & Rental Housing Scams
Students attending local universities may have the opportunity to live at home, but many are either moving out of state or are interested in moving out. This poses a problem for many students since most will have had little experience with looking for a good housing deal. Unfortunately, many scammers see this lack of experience as an opportunity to exploit new students. The following are some common housing scams students may encounter when attending college.
What Should You Do If You Fall for One of These Scams?
The first thing a student should do is review the red flags that may have presented themselves throughout the scamming process. This will help to reduce the likelihood of future exploitation. Students may also contact the police with their story; the more reports that are filed, the more likely the scammer is to be caught. Additionally, students can file a complaint with the Federal Trade Commission to prevent future dishonest business practices.
Phone & Phishing Scams
Have you ever received a phone call or email asking for personal information or payment for a service you weren’t aware of? Before offering up your credit card, it’s important for students to be informed on phone and phishing scams. Students should be wary of phone calls from unknown numbers or emails from unreliable sources. Below are some of the common phone and phishing scams that students may encounter while pursuing a degree.
What Should You Do If You Fall for One of These Scams?
Always start by reporting any scam-related incidents to the necessary parties to help prevent future incidents. A student who receives a phone call from an alleged FBI agent may file a report with IC3, the Internet Crime Complaint Center. If personal student information is compromised, immediately contact your school’s IT department to have your security information updated. A student should also consider downloading a reverse phone lookup app to verify any unknown callers.
Online & Social Media Scams
Living in an increasingly connected world means students have greater access to information regarding potential schools, employment opportunities and their peers. However, the same can be said of the student: Personal information is easier to access when a student is providing it on social media. Fortunately, scammers usually still need to directly contact students to learn of anything truly sensitive. Check out the list of online and social media scams below to learn how to turn these scammers away.
What Should You Do If You Fall for One of These Scams?
If you’ve fallen for a social media scam, immediately report the incident to the social media website through which the scam was orchestrated. Students should cease contact with the scammer, but keep record of any interactions they had with them. This will allow the student to provide a concise account of the incident to any necessary parties. If you have lost money due to the scam, contact local law enforcement to file a report.
