Stay vigilant against student finance scams as the academic year begins

Four circles on a yellow background, featuring a red warning sign and three envelopes with notification badges, conveying urgency.

The new academic year is about to start. If you are being funded through Student Finance Wales, we want to warn our students to stay cautious of scams.

Criminals use scams to target students for their personal information, such as usernames, bank details and passwords.

If you are soon to receive finance from Student Finance Wales, then we recommend being alert and aware of potential scams.

There are three main types of scams that criminals will try to use; ‘phishing’, ‘smishing’ and ‘vishing’.

‘Phishing’ is typically done through emails.

‘Smishing’ is typically done through text messages (SMS).

‘Vishing’ is typically done through phone calls.

These scams can happen at any point during the academic year, but a popular time period is around payment dates at the start of term. We have some tips below on how to spot a scam.

Check the quality of communication

Misspelling, bad grammar or poor punctuation are often signs of ‘phishing’ scams. Scam emails or text messages tend to be sent in bulk to target multiple people and are unlikely to contain your name. They might start with ‘Dear Student’ or ‘Dear User’.

If the message is urgent or has a ’24 hour’ deadline

Scam emails, text messages or phone calls will appear to be ‘urgent’, often asking you to click a link to verify your account, or ask you to provide information or your ‘account will be closed in 24 hours’. These types of messages try to create a sense of panic as a way of pressuring you into providing personal information.

Think before you click

If you receive contact that you are unsure of, don’t feel pressured to provide the requested details. You can always find official contact information for the student finance company through their website to confirm. If an email has a suspicious link, you can hover over it to check where it goes rather than directly clicking it. It is best to always go to the direct source rather than selecting a dangerous link.

Be mindful of the information you share

Scammers look at any personal information that could be posted on social media or elsewhere online. It is recommended to not provide information such as your last name, date of birth, customer reference number or addresses online. Try to avoid sharing online any payment dates you have been given by the student finance company.

You can find more guidance on identifying a scam via the Student Loans Company (SLC) on GOV.UK. If you get any contact that you feel could be a potential scam, you can report it to the SLC’s Economic crime unit. Their email is [email protected]. You can also call the dedicated hotline on 0300 100 0059.

Further general guidance on fraud and cybercrime is also available here:

Action Fraud - the UK’s national reporting centre for fraud and cybercrime

Stop! Think Fraud - a campaign from the Home Office

Who is the Student Loans Company (SLC)?

SLC oversees student finance on behalf of the government and devolved administrations across the UK. They are the parent organisation of Student Finance England (SFE), Student Finance Wales (SFW) and Student Finance Northern Ireland (SFni).

Student support at The Open University in Wales

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We want you to succeed in your studies with the OU and reach your potential. We know that distance learning is a great way to combine education with work and family commitments, but we don’t want you to feel that you’re by yourself.