As the back-to-school season approaches, it’s essential for parents and students to be aware of potential scams that could target them during this time. Smart shopping expert at TrueTrae.com, Trae Bodge, recently shared valuable insights on how to save on back-to-school shopping this year on ‚Mornings With Maria.‘ With experts cautioning that criminals are taking sneaky opportunities to rip off Americans through various scams related to education, it’s crucial to stay informed and vigilant.
The Federal Trade Commission has also stepped in to alert consumers about these scams and advise them to take precautions to protect their money and security. Fox News Digital reached out to security experts to identify common traps in which scammers try to prey on vulnerable families. Here’s a deep dive into four scams to watch for and what to know about them.
1. Deep-discount shopping scams:
Back-to-school supplies and gear can be expensive, prompting families to seek out sales and strategies to save money. However, scammers are aware of this quest for frugality and have developed creative methods to trick people out of their money. Terri Miller, a consumer education specialist with the Federal Trade Commission, warns consumers to be cautious when encountering deeply discounted prices, especially on high-priced, brand-name items. Many online shopping scams are prevalent on social media, with scammers impersonating real companies or offering seemingly great deals. To avoid falling for a scam, it’s essential to research the seller beyond the platform where the deal was seen and use secure payment methods like credit cards for added protection.
2. Textbook scams:
Textbooks can be a significant expense for students, leading many to explore secondary markets for cheaper options. However, scammers take advantage of this by offering textbooks at reduced prices but failing to deliver the books or sending counterfeit copies. To protect yourself, it’s advisable to purchase textbooks from reputable sources like official university bookstores or verified online retailers. Using secure payment methods like credit cards or PayPal can also help safeguard against fraud.
3. Financial scams:
Families and students facing high tuition bills may fall prey to financial scams promising quick and high returns. These schemes often involve pyramid schemes or fraudulent investment opportunities that result in financial loss. It’s crucial to be wary of investments that sound too good to be true and verify the credentials of the individuals or companies offering them. Consulting with a financial professional before making significant financial commitments is a wise decision.
4. Scholarship scams:
Similar to get-rich-quick investment schemes, scholarship scams target students and parents in need of funds to cover college tuition. Fraudsters may promise fake scholarships to obtain personal information for identity theft or financial gain. It’s important to be cautious of unsolicited offers that require payment for scholarship advice or request sensitive information like bank account details. Legitimate scholarship opportunities should be verified through trusted sources like school guidance counselors or financial aid staff.
In conclusion, as back-to-school sales and preparations ramp up, it’s crucial to remain vigilant and informed about potential scams that could target families and students. By staying aware of common traps and taking precautions to protect personal and financial information, individuals can navigate the back-to-school season safely and securely. Remember, if an offer sounds too good to be true, it probably is. Stay informed, stay cautious, and prioritize your security during this busy time of year.