Consumer Protection Groups Say Financial Aid-Related Scams Using COVID to Target Students – NASFAA
Scammers are taking advantage of the ongoing pandemic in attempts to obtain students’ financial and personal information, in some instances posing as financial aid offices.
The Federal Trade Commission (FTC) issued a warning last week notifying students that suspicious emails claiming to be from the “Financial Department” at their respective institutions are advertising how to receive the economic stimulus check.
The phishing email contains a link to a message about the check and asks students to enter their login information for the school, potentially exposing sensitive material to scammers.
Subject lines on the deceptive emails read something like “Memo from The Financial Aid (COVID-19 Relief Fund).” Additionally, FTC said clicking the link could lead the student to unknowingly download harmful malware onto their device.
The agency recommended being vigilant about verifying sender information and looking closely at the sender details. If it does not come from an individual with an email account from within the student’s institution, the agency recommends not clicking and reporting the message.