With tuition payments, financial aid applications and school supplies, August marks the month for students looking to spend their money on going back to colleges or universities. However, scammers take on this opportunity to sway students who are looking for better ways to manage their money.
Whether you’re starting school yourself or have kids who are vulnerable to such scams, BBB suggests students watch out for these financial scams before heading into the new semester.
As tech savvy as current college students can be, a surprising number of scams reported to BBB Scam Tracker are from students who learned their lesson too late. Use BBB’s ScamTracker to learn of the latest scam trends and read local reports of specific incidents.
According to BBB’s ScamTracker Risk Report, 41.6% of students reported a loss when exposed to a scam as compared to 28.3% of non-students. Students, who are freshly exposed to managing their own finances, are online looking for ways to save. It is important to be aware of scammers looking to take advantage of others. Contact your local BBB if you are unsure of something that could possibly be a scam.