How to Protect Your Education Funds

August 4, 2026 Fraud and Security

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How to Protect Your Education Funds

Heading off to college or starting a new semester is a major milestone. The investment you make in education is the foundation for your future success. Scammers know this is a stressful time and will target students and parents with fake fees and tuition traps. Let us work together to protect your education funds from fraud.

Real World Scenarios

The Bogus Scholarship: A student receives an email guaranteeing a scholarship but demanding an upfront processing fee to release the funds.
The Urgent Tuition Demand: A parent gets a phone call claiming to be from the university billing office threatening to drop the student from classes unless payment is made immediately over the phone.
Student Loan Forgiveness Traps: A recent graduate is contacted by a company promising to wipe out their student debt completely if they pay a high upfront enrollment fee.

Shielding Your Success

Never pay an upfront fee to apply for a scholarship or financial aid program.
Verify any urgent payment demands by hanging up and calling the school directly using the official number on their website.
Apply for federal student aid only through official government websites and never share your Federal Student Aid ID.

Closing the Gap on Fraud

Safeguarding your education funds allows you to focus entirely on academic success and future career goals. When we share these vital tips, we help to uplift people by navigating the stressful back-to-school season. Be sure to stay tuned next month as we explore how to keep your online accounts safe from hackers.

Protecting our community starts with conversations, whether you are sharing helpful safety tips on social media or discussing a recent incident with a neighbor. To keep everyone secure, our focus remains on three key pillars:

Avoid Scams: Stay informed to stop fraud before it starts.
Report Scams: Share your experience to help officials track and stop criminals.
Recover from Scams: Access resources to help you get back on track if you are targeted.

Take action and report fraud at ReportFraud.ftc.gov.

Help Prevent the Scams this August

Don’t let a scammer ruin your August. Stay vigilant, stay skeptical, and keep your personal info private. If you see something suspicious, do not hesitate to reach out. Contact our support team immediately.

Freeze your card instantly using the Mirastar Mobile App.
Contact Member Support directly at (800) 282-6212 or (408) 282-0700.
Report the fraud at ReportFraud.ftc.gov to help protect the rest of our community.

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