College scams: BBB warns students about 3 schemes
College scams, BBB warns students
College students can be the perfect prey for scammers. The BBB said knowing how three schemes work will help students protect their wallets and identities.
MILWAUKEE - College is a major life shift. Scammers will try to trick young people who are living independently for the first time.
Why you should care:
High tuition bills, exam stress and first-time independence can make college students the perfect prey for scammers. The Better Business Bureau said knowing how three schemes work will help students protect their wallets and identities.
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"Students are so busy, especially when school starts," explained Lisa Schiller with the Better Business Bureau Serving Wisconsin.
1. Financial aid fraud
What you should know:
The student is offered a phony college scholarship or guaranteed financial aid. They must pay to apply when these opportunities are usually free.
"If it's out of the blue and comes unsolicited, it should definitely raise a red flag," Schiller said.
What you can do:
Before applying, check the offer's legitimacy with school counselors and on government websites.
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2. Test preparation scams
What you should know:
The scammers pretend to be with a company that can offer assistance with exams or test preparation. The promised help does not materialize. The scammers may threaten to expose the student for cheating if they don't pay up.
3. Fake credit card scams
What you should know:
The credit card offers are tempting and designed to access a student's personal information. Scammers are counting on the students' inexperience.
"This is the age group where students start to apply for their first credit card," Schiller said.
What you can do:
Before applying, research the financial institution and read online reviews.
Portions of this article were formatted using A.I. FOX6’s Jenna Sachs and an editor reviewed it for accuracy and tone prior to publishing.
The Source: Information in this story was gathered from Lisa Schiller and Better Business Bureau Serving Wisconsin.