SAN ANTONIO – As college classes kick into gear, scammers are on the prowl, preying on students and parents who may be vulnerable to their tactics.
According to the Federal Trade Commission (FTC), scammers are posing as school financial aid or bursar offices, claiming that students’ financial aid has been revoked and demanding immediate payment of the full balance. They may even go as far as threatening to withhold transcripts until payment is made.
The FTC emphasizes that legitimate colleges or universities will never pressure individuals into immediate payment over the phone, but scammers certainly will.
So, what should you do if you receive a call like this?
First and foremost, remain calm and carefully consider the caller’s demands. Refuse to succumb to any pressure to pay on the spot, as scammers typically aim to rush victims into making hasty decisions. Under no circumstances should you provide your bank or credit card information in such situations.
It’s important to note that scammers often request payment through unconventional methods such as cryptocurrency, wire transfers, payment apps, or gift cards, as outlined by the FTC.
Be wary of spoofed phone numbers that may appear as if they are coming from your campus, as scammers attempt to deceive with fake caller IDs. The FTC recommends blocking all unwanted calls to avoid falling victim to such scams.
If you have any doubts about your school account status, rely on your school’s secure student portals to verify your bill and settle any outstanding balances. Additionally, reach out to your financial aid or billing office through an authenticated phone number to inquire about your current situation.
Any instances of fraud should be promptly reported to the FTC at reportFraud.ftc.gov.
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