Students are increasingly being targeted by financial scams, online and offline. Scams are becoming more sophisticated and harder to spot, so it’s important to know what to look out for and how to protect yourself.
Have a look at this article from Save the Student which outlines the most common scams and how to avoid them.
Tuition fee scams have become increasingly common, especially for international students: scammers will contact you – often on social media – offering a discount or better exchange rate on your fees. They ask you to transfer an amount of money lower than your fees to their account, and say that they will pay the College the full amount.
In some cases, the scammers will pay the first instalment of fees so it will seem that everything is fine. However, the payment will be declined within a couple of months and you will be liable for the fees.
Remember:
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Always pay your tuition fees directly to the College
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Do not trust anyone who offers you a ‘discount’ or ‘deal’ on your tuition fees
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Never share your bank details or transfer money to someone you don’t know
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Scammers can mimic official phone numbers. If you get a phone call that you think is a scam, hang up and call the company directly. Use a different phone if possible or wait at least 10 minutes as scammers can keep the line open after you have hung up.
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If it sounds too good to be true, it probably is.