Watch Out for Back-to-School Scams Targeting High School and College Students

For parents, back-to-school season means a lot of changes: new schedules, new textbooks, new jobs, new dorm rooms or apartments, and even new financial aid paperwork. Scammers know it too, and are using this time to target young students. Here are four types of scams to look out for:

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1. Fake Off-Campus Rental Listing

Scammers may post listings near college campuses for rentals that aren't actually available or don’t exist at all. They may ask for a deposit or first and last month's rent to hold the rental, then disappear once you send payment.

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2. Fake Campus Job Postings

Scammers may post fake job listings for positions on or near campus, typically aimed at students looking for their first job. College students may be looking for jobs on or near campus, so they can become easy targets for scammers, especially because a lot of students are job hunting on their own for the first time. A fake listing can be harder to spot than it would be for someone who's done it before.

Learn more about fake job scams

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3. Fake Online Stores Selling School Supplies

According to the Better Business Bureau, scammers are flooding social media sites with fake stores designed to steal your money. They may build fake shopping sites, sometimes with a similar URL just a letter or two different from a legitimate website. Then the scammers run ads promoting unusually high discounts on textbooks, laptops, clothing, and other school supplies. They may even advertise “going out of business” sales. Students who “purchase” through these sites end up handing over their money and sensitive information without actually receiving the product.

4. Student Loan "Debt Relief" Scams

According to the FTC, scam companies may contact borrowers promising to reduce or forgive their student loan debt for a fee. They may claim to drastically reduce your loans without having reviewed your situation, or claim they have access to “exclusive” forgiveness programs. The FTC states: "Some companies promise to help reduce student loan debt for a fee. But there's nothing they're able to do for you that you're not able to do for yourself for free." These companies sometimes use official-looking Department of Education seals and logos to appear legitimate.

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Red Flags to Watch For

• A rental listing, job offer, or online deal that's priced or timed to feel too good to pass up
• A web address that's slightly misspelled or off from a retailer you know, or a site with blurry photos and no contact information
• Any request for a deposit, rent, or payment up front
• A caller or company that already has details about your loan balance
• Pressure to act immediately before you lose your deal or your eligibility
• Any request for your Federal Student Aid ID, Social Security number, or bank information from an unsolicited call, text, or email
• Official-looking seals or logos used to legitimize a promise that sounds too good to be true

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How to Protect Yourself

• Type a store’s URL into your browser yourself rather than clicking through from a social media ad
• Look for "https://" and a lock icon before submitting a payment
• Never pay a deposit, rent, or fee before you've verified what you’re looking at is real
• Look into the landlord, employer, or company on your own before sending any money
• Pay with a credit card rather than a debit card or wire transfer when you're shopping online. It gives you stronger fraud protection if something goes wrong
• Remember that legitimate student loan help is free through your loan servicer or studentaid.gov
• Don't give your FSA ID to anyone who reaches out to you first
• Slow down if you feel rushed. A legitimate deadline rarely requires a decision to be made right away
• If you have any doubts that an offer may be a scam, call your school, landlord, or loan servicer using contact information you verify yourself

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For Families

If your student is heading off to school this fall, it's worth having a quick conversation before move-in day. Let them know that any legitimate landlord, employer, or loan servicer will never pressure them to pay or share personal information on the spot, and that a deal that looks too good to be true online usually is. 

Scammers are constantly changing their tactics, but staying informed is one of the best ways to protect yourself and the people you love. Carefull helps families spot unusual activity and financial red flags before they turn into real losses.

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