College is a masterclass in independence—from managing your own schedule to building a foundation for your future career. But along with newfound freedom comes a less exciting responsibility: learning how to keep your personal and financial information safe.
Because they are often navigating independent finances for the first time, college students are increasingly becoming prime targets for identity theft, financial fraud, and sophisticated digital traps. Spotting a red flag early is the best way to protect your hard-earned money and your credit score.
In this guide, we expose seven common scams that target college students and provides actionable, real-world strategies to help you spot them, avoid them, and protect your digital footprint.
1. Identity Theft
Fraudsters target college students for the same reasons they target other groups. Their goal is to steal personal information and use it to commit fraud, such as making online purchases, opening credit accounts, or taking out loans. It’s also important to note that cybercriminals aren’t the only ones who commit identity theft; many cases are conducted by friends or acquaintances who have easy access to your information.
If you live in a dorm or an apartment with other college students, you must lock up important documents like your Social Security card, bank statements, and student loan paperwork. You should also avoid keeping a physical copy of your passwords. Instead, consider using a password manager with multi-factor authentication (MFA). Also, invest in a cross-cut paper shredder and always shred credit card offers, bank statements, and receipts.
Plus, don't use public Wi-Fi in college settings (e.g., libraries) and nearby coffee shops without a virtual private network (VPN).
2. Housing Scams
Many students relocate to college towns before the academic year begins. They typically search for studio apartments or multi-room rentals. Unfortunately, scammers target these students by posting fake rental listings online and urging students to pay a deposit before visiting the property in person. If a college student falls for this scam, the scammer collects the money and disappears without a trace.
To avoid housing scams, look for rental listings on trusted websites or those provided by your college. Always visit each housing option in person and verify the landlord's identity. Plus, look up the property address online to ensure it doesn't appear under a different landlord's name or with a different rental price.
Be cautious if a landlord requests immediate payment or if the property is well below market rates, as these can be red flags.
3. Fake Job Offers
Scammers know that many college students seek extra income for school supplies, living expenses, and extracurricular activities. So, they often post bogus job listings online, hoping students will provide personal or financial information on fraudulent applications.
If you plan to work part-time while attending college, be aware of certain warning signs in job listings. These include job offers that require an upfront fee for things like training or equipment, those that guarantee high wages with little or no experience, or listings that do not involve an interview.
It's best to search for job opportunities through your admissions office or on reputable job sites like LinkedIn®. Also, conduct an online search to verify that the business is real. Check for a physical location, an office telephone number, a website, and a social media presence.
4. Selling Scams
Online marketplaces often have a variety of items at reasonable prices. However, these platforms also attract fraudsters who try to trick college students into buying home furnishings, clothing, concert tickets, and other goods that don't actually exist. If money changes hands online and the fraudster fails to deliver the purchased items, the college student loses their money.
When shopping for items online, do not send money to anyone. Always meet the seller in person at a safe public location—ideally with a friend— or at a local police station. It is also recommended that you use only cash for your purchase. Paying with a personal check or wire transfer can be risky.
5. Student Loan Scams
Cybercriminals work tirelessly to obtain the names, email addresses, and phone numbers of college students so they can send them bogus student loan or debt relief offers. Unsuspecting students who fall for these offers put their personal and financial information at great risk.
Emails or text messages offering student loans or debt relief that you did not request are usually phishing attempts or scams. If you receive an unsolicited offer, do not respond or click any links. Instead, delete the message and block the sender's email address and/or text number. This also applies to phone calls that you might receive.
Remember, no bank or government agency will contact you via email, text, or telephone asking for sensitive information, such as your Social Security number, credit card number, or bank password.
6. Unpaid Tuition Scams
Fraudsters often target college students by sending emails or letters via regular mail or by calling them directly, claiming they have outstanding tuition bills. These messages may encourage quick payment by warning recipients about the negative impact of unpaid tuition on their credit scores. If students provide their bank account information or credit card numbers to these scammers, it can be used to commit financial fraud.
If you receive a suspicious email, letter, or phone call from someone posing as a college official or bank representative requesting payment for a fake outstanding tuition balance, ignore it. Log in to your bank account and check your balance and payment history to ensure your account wasn't compromised.
7. Bogus Bank Texts
Bogus bank texts, also known as SMS smishing, are commonly used by cybercriminals to steal money and personal information from college students. These texts impersonate a bank and create a sense of urgency regarding a specific issue. Common tactics include messages claiming an unauthorized purchase, requests for a Social Security number, or prompts to change a password.
If you receive a suspicious text claiming to be from your bank, do not reply to the text, click on any links, or call the provided number. Contact your bank's customer service department if you are concerned about a potentially fraudulent transaction.
How To Report Scams
Make sure to report all suspicious email addresses, text numbers, and phone numbers to the Federal Trade Commission (FTC) at ReportFraud.ftc.gov. It is also advisable to report the incident to your college's financial aid or bursar's office.
At Ameris Bank, we’re serious about fraud. We use advanced tools and technology, including strong encryption, secure login protocols and continuous monitoring for suspicious activity. If you have any questions about our fraud prevention measures, please get in touch with us today to speak with a banker.
The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. Ameris Bank does not endorse nor is affiliated with the companies listed in this article.
