Protecting Students From Financial Aid Fraud Should Be A Priority For Schools

Protecting Students From Financial Aid Fraud Should Be A Priority For Schools

Posted October 27, 2020

Protecting Students From Financial Aid Fraud Should Be A Priority For Schools

  • The Department of Education reports “an increased number of ransomware attacks targeting higher education institutions” in the wake of Covid-19. We’re seeing more reliance on technology, rather than in-person communication, as the virus drags on. Many students are unable to visit financial aid offices in person and are conducting more of their business online.
  • Although young people tend to be pretty tech savvy, they don’t often understand the ramifications of fraud or the threat it poses. If they see an email that looks like it came from their university, students may be inclined to trust it, even when they shouldn’t. Schools can address this by outlining in very clear terms:
    • When students can expect emails.
    • What they will ask of students.
    • How they will ask it.
  • Most young people won’t have experience navigating the financial aid process, so they may be tricked by those impersonating an imposing authority figure.

– Monica Eaton Cardone | October 27, 2020