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BBB warns students of back-to-school scams
Victims have reported losses of hundreds to thousands of dollars as scammers pose as schools, lenders and landlords, the Better Business Bureau says.
- Claire Rosenzweig, CEO of the Better Business Bureau of Metro New York, warned of back-to-school scams targeting students, costing victims hundreds or even thousands of dollars.
- Scammers frequently use imposter schemes, pretending to be banks or universities, to steal personal information. "They'll say, 'You won a scholarship!'" Rosenzweig said, noting unsolicited offers signal red flags.
- Test preparation scams often involve blackmail, where criminals threaten to report students to colleges for cheating. "We're going to report you to the college, and you're going to get expelled," Rosenzweig said.
- Fraudsters posing as the Department of Education promise lower loan payments. In one case, a victim was tricked into thinking payments were made, but the department had no record.
- Students should verify offers on official websites and research companies online before sending money. Contact your school's financial aid office or use resources recommended by the Consumer Financial Protection Bureau.
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