The back-to-school season is an exciting time for students and parents. With millions of students and parents preparing for the school year, shopping for supplies, making tuition payments and finding a place to live can quickly become overwhelming. Amid all the excitement and errands, it’s easy to slip up and fall victim to scammers. To avoid back-to-school scams and protect yourself from fraud, knowing the signs of these tricks can help you stay far away from fraudsters.
Back-to-school scams can range from phishing attacks to fake online stores and phony scholarship offers. Here are five of the most common scams and some helpful tips on how to avoid them.
Phishing Emails and Social Media Scams
Financial Aid Scams and Fake Scholarship Offers
Phishing emails can target anyone at any time, and back-to-school scams can also include social media posts, messages and ads that look legitimate. These emails and ads are designed to trick recipients into sharing sensitive data, such as financial information or login information. Scam artists may pose as your school asking you to update your information or pretend you’ve won a shopping spree or other prize, only to steal your information or inundate you with spam.
To avoid falling victim to these schemes, make sure you know how to recognize phishing scams and stay away from ads claiming to offer school supply giveaways and freebies. Always exercise extreme caution when clicking links from unknown senders, since doing so can risk infecting your computer with viruses, spyware and other malicious software. If you’re unsure whether a link is legitimate, hover over the link before clicking it to ensure it’s a legitimate URL.
In a technical support scam, cybercriminals attempt to gain access to your computer by claiming to be technicians working for your school. Once the scammer has access to your computer, it’s much easier for them to steal your identity and damage your device. If you receive a message you think might be from your school, don’t click on any links; instead, contact the school’s IT department directly to verify if it’s legitimate.
Tech support scammers can use many different strategies, including phone calls, text messages, emails, popups and online ads. The scam usually starts by claiming there’s a problem with or a threat to your computer. Then, they might ask you to grant them remote access to your computer. Sometimes, the scammers will charge you money to fix a fake problem that they engineered, or they can just use access to your device to steal your sensitive information.
In addition to tech support scams, there are countless other phishing fake-outs. To recognize a phishing scam, look for any signs of suspicion, such as misspellings, poor grammar, urgency or threats and the use of a large, well-known company’s name.
Roommate and rental scams can cost thousands of dollars and leave students without a place to live when school starts. There are a variety of different rental and roommate scams, from copied listings to excessive fees and bait-and-switch schemes. Though they might look a little different, all these cons have one thing in common – they prey on college students and parents they think they can trick into giving them money.
In a copied listing scam, the fraudster will use information and photos from a legitimate rental listing and an attractive low price to lure in unsuspecting apartment hunters. When the prospective tenant asks to tour the property, the scammer will make excuses for why they can’t show the unit or demand a payment or application fee before the showing. If you’re searching for an apartment this back-to-school season, never make a payment before seeing the property and meeting with the owner, landlord or real estate agent.
Some rental scams attempt to charge excessive or unnecessary fees for an application or background check. Though a legitimate lease application may cost $30 to $60 per applicant, application or background check fees that are significantly higher may be a red flag.
A bait-and-switch rental listing uses false advertising to generate interest and get you on the phone or in front of a pushy salesperson. For example, you might see a home that looks like it’s in perfect condition and priced below market value. Unfortunately, when you call to inquire about the property or schedule a tour, you’re told it’s not available and then pressured into renting a different unit.
Roommate ScamsRenting a room is a great way to save money while you’re in school, but it can come with some risks. In a roommate scam, the scammer shows the room for rent. The prospective renter likes the room and agrees to rent it out. Unfortunately, when it comes time to move in, the renter discovers that the room isn’t actually available and has no way of getting back the money they paid. To avoid a roommate scam, make sure you meet all the roommates, get a written lease agreement signed by the owner and use a check or credit card to pay.
College tuition is expensive, which is why tens of millions of American adults have student loan debt. As a result, fake scholarship offers and financial aid scams can trick people into sharing sensitive information such as credit cards, bank accounts and Social Security numbers.
To steer clear of phony financial aid schemes, avoid sharing personal information over the phone or paying any kind of processing fee to someone who claims they’ll help you apply for student loans, grants or other financial aid programs. The Free Application for Federal Student Aid (FAFSA) never charges an application fee, but scammers may try and get you to pay them to “help” complete the application, which could compromise your eligibility for aid and potentially result in fines or even jail time. As a result, you should never share your Federal Student Aid ID with anyone. If you need help completing your FAFSA, speak to your parents, your college or career school’s financial aid office or visit studentaid.gov for additional resources and information.
Another way scammers can steal your money or personal information is through fake scholarship offers. Like fake financial aid scams, these ploys often charge you a fee or try and steal your personal information, credit card or banking information. To avoid scholarship and grant scams, never pay to apply for a scholarship, and be wary of any scholarship offers you haven’t applied for or that seem too good to be true.
In 2023, Americans’ back-to-school college spending hit a record $94 billion. Students and parents looking to save may encounter deals for discounted school supplies, but fake websites can take advantage of sale seekers. These websites might claim to have better deals on the school supplies you need, though in some cases, they might take your money without sending you the goods you thought you purchased or send you outdated textbooks, counterfeit goods or items that aren’t what they advertised.
The best way to avoid online shopping scams is to shop with reputable companies that have secure websites (look for https at the beginning of the URL). If you’ve never heard of a company, read the company’s reviews and complaints and look for Better Business Bureau (BBB) accreditation. Finally, when buying merchandise or supplies online, make sure you use a credit card with fraud protection rather than a debit card or peer-to-peer payment apps like Venmo, PayPal or Cash App.
As another school year starts, make sure you get off on the right foot by staying vigilant and protecting yourself against fraud. Learning and implementing cybersecurity best practices – such as using strong passwords, updating your software, using multi-factor authentication and never opening links from unknown senders – can help keep you safe. To find out if you’re able to identify fraudulent emails and messages and to learn more about how to avoid financial scams, visit banksneveraskthat.com.
If you suspect you’ve been a victim of fraud, Seacoast is here to help. Contact us at 800-706-9991 or visit any Seacoast Bank branch location for assistance.
Topics: Protect Your Finances
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