Believe it or not, it’s almost back-to-school season! Whether you’re shopping for supplies or helping your student head off to college, it’s a busy time of year — and scammers know it.
From phony scholarships to debt relief scams and fake job offers, fraudsters are targeting parents, students and new grads alike.
Keep an eye out for these scams this back-to-school season:
Student Aid ScamsThere are many scholarships, grants and financial aid programs to help students achieve the dream of college education. However, beware of anyone who promises you a “guaranteed scholarship” but asks you to pay a fee first. This is a scam — real scholarships don’t require payment to apply.Do your homework: Research scholarship providers and apply through official channels. Don’t click on links sent to you via email or text. Student Loan Debt Relief ScamsScammers may contact students claiming they can help “cancel” student loan debt or lower monthly payments in exchange for a fee. They may even pose as the U.S. Department of Education, and ask for personal information like your Social Security number. Don’t fall for it! Go straight to the source: If something sounds too good to be true, it probably is. Visit studentaid.gov directly for accurate information on student loan repayment and federal loan forgiveness programs.Fraudulent School Supply DealsSchool supplies like electronics and college textbooks can be pricey, so it makes sense to shop around for the best deals. However, beware of buying from unfamiliar resale sites with prices that seem unbelievably low. You could end up paying for supplies that never show up. Shop smart: Only buy from trusted retailers, including well-known websites with positive reviews or your school’s bookstore for textbooks.“Ghost” Rental Listings for Student HousingLiving off-campus is an exciting time for college students. However, beware of student housing ads asking for deposits or rent upfront. Scammers will use stolen photos of homes or apartments to post fake rental ads, only to disappear once you’ve sent them money. Rent with caution: Try to view a property in person before making a decision. Don’t pay “landlords” with an unusual method, such as a prepaid gift card, money wire or payment app. “Student Tax” ScamsAs the school year starts back up, scammers may contact students or parents pretending to be the IRS, claiming you owe a “student tax” and demanding immediate payment. They may threaten you with fees, legal action or jail time. Don’t fall for it — there’s no such thing as a student tax. Protect Yourself: The IRS will never call, email or text you out of the blue demanding payment or personal information. If you're unsure, hang up and contact the IRS directly.Phony Job ListingsScammers often target college students and new grads with remote job opportunities that promise high pay for little work. In an employment scam, a phony recruiter may ask for sensitive information upfront. Or, once you’re hired, the “employer” sends a fake check and asks you to return part of the money from your own account. Verify first: When job hunting, take time to research the company before accepting an offer and sharing any personal details. Be suspicious if an employer contacts you with unusual requests.
There are many scholarships, grants and financial aid programs to help students achieve the dream of college education. However, beware of anyone who promises you a “guaranteed scholarship” but asks you to pay a fee first. This is a scam — real scholarships don’t require payment to apply.
Do your homework: Research scholarship providers and apply through official channels. Don’t click on links sent to you via email or text.
Scammers may contact students claiming they can help “cancel” student loan debt or lower monthly payments in exchange for a fee. They may even pose as the U.S. Department of Education, and ask for personal information like your Social Security number. Don’t fall for it!
Go straight to the source: If something sounds too good to be true, it probably is. Visit studentaid.gov directly for accurate information on student loan repayment and federal loan forgiveness programs.
School supplies like electronics and college textbooks can be pricey, so it makes sense to shop around for the best deals. However, beware of buying from unfamiliar resale sites with prices that seem unbelievably low. You could end up paying for supplies that never show up.
Shop smart: Only buy from trusted retailers, including well-known websites with positive reviews or your school’s bookstore for textbooks.
Living off-campus is an exciting time for college students. However, beware of student housing ads asking for deposits or rent upfront. Scammers will use stolen photos of homes or apartments to post fake rental ads, only to disappear once you’ve sent them money.
Rent with caution: Try to view a property in person before making a decision. Don’t pay “landlords” with an unusual method, such as a prepaid gift card, money wire or payment app.
As the school year starts back up, scammers may contact students or parents pretending to be the IRS, claiming you owe a “student tax” and demanding immediate payment. They may threaten you with fees, legal action or jail time. Don’t fall for it — there’s no such thing as a student tax.
Protect Yourself: The IRS will never call, email or text you out of the blue demanding payment or personal information. If you're unsure, hang up and contact the IRS directly.
Scammers often target college students and new grads with remote job opportunities that promise high pay for little work. In an employment scam, a phony recruiter may ask for sensitive information upfront. Or, once you’re hired, the “employer” sends a fake check and asks you to return part of the money from your own account.
Verify first: When job hunting, take time to research the company before accepting an offer and sharing any personal details. Be suspicious if an employer contacts you with unusual requests.
When it comes to preventing fraud, a little education goes a long way.
As your caring financial partner, WPCU is here to help you recognize the red flags of fraud and take proactive steps to stay secure.
Be sure to visit our Fraud Prevention page for the latest scam alerts, tips and tools to stay safe and protect your hard-earned money. We’re With You!