Tuition Fee Scam

What are college tuition scams?

College tuition is expensive, and high interest rate loans add to the financial burden, which gives an opportunity to the scammers to come up with deceptive schemes targeting vulnerable individuals. Their tactics range from pretending to offer help with loan repayment to coercing victims into paying unnecessary fees. These college tuition fee scams are not only manipulative but also emotionally distressing for those already under financial pressure.

Here’s how fraudsters cheat people in college tuition fee scams

Third-party discounts:

According to one of the university fee scam alerts in UK colleges, scammers were found offering to repay student loans at a discounted rate, even though universities don't provide such discounts. Many students fall victim to these fake offers, where scammers pay the fees using stolen credit cards. Once the fraud is discovered, the money is reversed, leaving the student responsible for the full fee amount once again.

Unpaid tuition scam calls:

These phone calls are usually targeted towards the parents. Fraudsters call the parents and tell them that the tuition fee has not been paid for the semester.

Threat, fear and urgency:

The fraudsters threaten their targets with warnings that the student will be barred from attending classes if the tuition fee isn’t paid. They then pressure the victims into providing their card details and disclosing personal information. These fake tuition payment requests or threats should always be verified through official university channels.

Unusual payment methods:

The easiest way to confirm if you are speaking with a scammer is to wait until they tell you how to make the payment. Asking for payments through wire transfers, gift cards, or cryptocurrency is a telltale sign that you are being scammed.

Tuition payment phishing:

Fraudsters send malicious payment links via SMS or email that appear to come from the university but are actually designed to steal your money and redirect it to their own accounts.

How to protect yourself from tuition fee scams?

Protect your money from fraudsters who prey on innocent students and parents, scamming them out of their college funds. Here are a few simple things to keep in mind:

Verify payment requests: If you receive a tuition fee payment request from an unknown source, do not trust it. If your fee is due, verify it directly with the university and make the payment only through official channels.
Protect your bank details: You should never share your important passwords, PINs, identity documents, or credit card details with anyone.
Be informed and educate your parents: Stay informed and educate others about ongoing scams and the new tricks scammers use to steal your money. If a deal seems too good to be true, such as an interest-free loan or a discount on tuition fees, be cautious and always verify it with the university.
Use Truecaller app: Identifying unknown callers before answering their calls and avoiding a flood of spam messages is exactly how Truecaller helps. It makes life simpler and allows you to deal with potential fraud before it’s too late. With features like real-time caller ID, spam blocking, and a community-based reporting system, Truecaller adds an extra layer of protection by filtering out known fraud numbers.

What to do if you are a victim of a tuition fee scam?

Change your passwords:

If you have shared important bank details and passwords, change them immediately and enable two-factor authorization

Inform your bank:

If possible, ask your bank to block your funds or freeze your accounts to protect your money. Act quickly, as the bank may still be able to stop the transaction.

Contact the university:

Inform the university so they can guide you on the next steps and check whether any payments were received through unreliable or unauthorized sources.

Report on Truecaller:

Flag scam phone numbers on Truecaller to help warn others and prevent more people from falling victim to tuition fee scams.