Students and parents are being warned about a new scam involving calls about unpaid college tuition. The Federal Trade Commission (FTC) has issued an alert about scammers pretending to be from the school’s financial aid or bursar’s office. These scammers may threaten to drop classes unless money is sent right away, claiming that bills have not been paid and financial aid has fallen through. In some cases, scammers also pose as offering scholarships, grants, and financial aid but ask for personal information or upfront fees.
Apart from the college tuition scam, there are other student-focused scams to be aware of. Some scammers offer to pay down student loan debt or forgive existing loans in exchange for personal information, while others set up fake websites to sell textbooks at discounted prices but never deliver the books. There are also scams involving concert tickets, rental properties, and roommates. Students are advised to be cautious of any offers that seem too good to be true as scammers are constantly finding new ways to deceive unsuspecting victims.
To avoid falling for these scams, students and parents are advised to be vigilant and look out for red flags. These include callers demanding immediate action or personal information, businesses with brand new or suspicious names, limited forms of payment, and charging for information that is usually free. Additionally, communications with typos or poor English should be regarded with suspicion, as well as any requests for unconventional payment methods. It is crucial to protect personal and financial information by setting up two-factor authentication and changing passwords regularly.
If you receive a suspicious call or text, it is important to report it to local law enforcement and the FTC. Students should also notify their financial institutions and consider freezing their credit to prevent identity theft. It is advisable to verify any outstanding balances directly with the school’s financial aid office or billing office before making any payments. By being proactive and staying informed about the latest scams, students can protect themselves from falling victim to fraudulent schemes targeting college students.
