As everyone heads back to school and college campuses come alive, it’s not just students and parents getting busy; scammers are too. This time of year often brings a rise in financial scams that target families, from fake tuition bills to fraudulent scholarship offers. Staying informed and vigilant is key to keeping your finances safe.
Common Back-to-School Scams
- Fake Tuition Bills
Scammers may pose as university billing departments, sending emails or texts demanding urgent tuition payments. These messages often include fake links or account details. If you do not recognize the sender or if you were not expecting a text from the university, do not click on the link. Instead, call the registrar’s office to verify the sender. - Scholarship & Grant Scams
Some companies claim they can guarantee scholarships for a fee or trick students into providing personal data. You should not have to pay a fee to apply for a legitimate scholarship. You can also search public records to verify the scholarship’s validity. - Phishing Emails from “Schools”
Emails that look like they’re from your child’s school may ask you to click a link to update emergency contacts, pay a fee, or download a form. If you are not certain the email is legitimate, do not click on the link. Reach out to a contact at your school to determine if the email is valid.
How to Stay Safe This Fall
Cybercrimes are prevalent, and it’s important to protect yourself before it strikes. Back-to-school scams can catch even the most cautious person off guard. The best way to avoid these tactics is to slow down and follow a few precautions.
- Pause before acting
- Use trusted portals
- Monitor accounts
- Educate your family
Back-to-school season should be about fresh starts, not financial headaches. By staying alert and knowing the red flags, you can keep your family safe, and your finances protected. If you have questions or would like to discuss your financial situation, please fill out our contact form, and a member of our team will be in touch with you.
Advisory products and services offered by Investment Adviser Representatives through Prime Capital Investment Advisors, LLC (“PCIA”), a federally registered investment adviser. PCIA: 6201 College Blvd., Suite#150, Overland Park, KS 66211. PCIA doing business as Prime Capital Financial | Wealth | Retirement | Wellness | Family Office. Securities offered by Registered Representatives through Private Client Services, Member FINRA/SIPC. PCIA and Private Client Services are separate entities and are not affiliated.