Phone calls to college students and parents demanding immediate payment for tuition are scams that seek to trick victims into turning over their bank account information or making fraudulent payments, the Federal Trade Commission warned in a new consumer alert.
According to the FTC, scammers pretend to be from a college’s financial aid or bursar’s office and claim that a student’s financial aid fell through and that he or she can’t start classes unless they pay the full balance immediately. Other scams may claim that victims can’t access their college transcripts unless tuition is paid. Neither claim is true as colleges will not demand immediate payment over the phone.
“If someone calls and demands that you give them your bank or credit card information immediately, don’t do it. That’s a scam,” the FTC said. “And only scammers demand payment with crypto, a wire transfer service like Western Union or MoneyGram, a payment app or a gift card.”
The FTC also warned consumers not to trust caller ID as phone numbers can be spoofed. Most schools use secure student portals to post bills and let students pay safely, the agency said. “Check any tuition balance there first. Or call the financial aid or billing office directly using a number you know is legit. They’ll help you verify any outstanding balances and when you need to pay.”