Back-to-school season is a time of excitement, preparation, and fresh starts. But it's also a time when scammers ramp up their efforts, hoping to take advantage of busy students and families. Whether you're heading to college, sending your child to school, or just checking off your supply list, it's important to stay alert.
Here are some common scams to watch for, and how to protect yourself:
SCAM: Student tax
This scam targets college students with a phone call from someone claiming to be from the IRS. The caller says the student owes a "student tax" and must pay immediately or risk being barred from school, or worse, face jail time.
Here's how to protect yourself:
- There's no such thing as a "student tax."
- The IRS will never call you out of the blue. They always contact people by mail first.
- They'll never ask for payment through gift cards, wire transfers, or prepaid debit cards.
If you get a call like this, hang up. It's not real.
SCAM: Unpaid tuition
In this scam, someone pretending to be a school administrator or secretary calls a student or parent, claiming there's an unpaid tuition bill. They may say a check bounced or a scholarship was canceled, and that the balance must be paid immediately via wire transfer or cash drop-off.
What to do instead:
- Most schools don't demand immediate payment, especially not through wire transfers.
- Ask questions. A scammer won't be able to answer detailed ones about the school or your account.
- Contact your school directly using a number or email you trust. Don't use the number the caller gives you.
SCAM: Guaranteed scholarships and financial aid
These scams often promise guaranteed scholarships or grants for a fee. They may offer to file your FAFSA for you, also for a fee. In both cases, the money goes to the scammer, and you're left with nothing.
Here's how to stay safe:
- You should never have to pay to apply for a scholarship or government financial aid.
- No one can guarantee you'll receive a scholarship or grant.
- You can file your FAFSA for free at fafsa.gov. If you need help, your school's financial aid office is a great resource.
SCAM: Fake giveaways and freebies
Back-to-school giveaways can sound enticing with free backpacks, gift cards, or shopping sprees. However, if a message asks you to click a link, enter personal info, or pay a "processing fee," then it's likely a scam.
Watch for these red flags:
- You're asked to provide lots of personal info just to claim a prize.
- You're told you've won something you never entered to win.
- You're asked to pay to receive your prize.
If it sounds too good to be true, it probably is.
SCAM: Social media shopping deals
Scammers often use social media to promote fake deals on school supplies, electronics, or gift cards. These posts may link to websites that steal your information or install malware on your device.
Stay safe by remembering:
- Legitimate retailers don't sell $1,000 gift cards for $250.
- Be cautious of deals that seem unusually cheap or urgent.
- Avoid clicking on suspicious links, even if they come from someone you know.
You've got this!
Scammers are counting on the back-to-school rush to catch you off guard. By staying alert and knowing what to look for, you can protect yourself and your family from fraud this upcoming school year. Explore more financial tips and resources in the Financial Wellness Center.
Need help or have questions?
Whether you're budgeting for school, applying for financial aid, or just looking for ways to stay financially secure, Golden 1 is here to help. Get in-person help by scheduling an appointment at your local branch or connect with a member services representative with your questions.
