As back-to-school spending soars to $88.8 billion, scammers look to capitalize

By Editor | August 27, 2025

As college students head back to campus, scammers are close behind, targeting young adults. Families are expected to spend an average of $1,325.85 this year, slightly less than the $1,364.75 spent in 2024.
However, more people are shopping across nearly every category, pushing total back-to-college spending to a record $88.8 billion.
For many young adults, college offers a first taste of independence and a chance to build lasting financial habits. Decisions like buying a car, opening a credit card or taking out student loans can shape their future well beyond graduation. In 2023–24, undergraduate students received an average of $16,360 in aid per full-time equivalent student.
“Scammers know that college students are often managing their own finances for the first time, which can make them more vulnerable to deceptive offers,” said Jason Meza, senior director of communications and member relations for the Better Business Bureau serving the Heart of Texas. “Being aware of the most common schemes and taking a few simple precautions can save students from losing both money and personal information.”
Be aware of these financial scams before heading into the new semester.
Impostor scams. Impostor scams can take on many forms. One tactic used to get a student’s personal information is a phishing email that claims to be from the school’s “Financial Department.”
Fake credit cards. Offers to apply for your first credit card are tempting to many students. Not only could this create credit problems down the road due to unchecked spending, but some deals could be phony offers designed to access personal information.
Too-good-to-be-true apartment listings. It’s tempting to hand over credit card information online to lock in a great spot, but it’s always worth seeing the apartment in person before a money transfer.
Identity theft. It’s a good idea to start practicing healthy money habits, and one such habit is regularly checking your credit report for unusual activity and possible identity theft fraud. The official government website to do this for free is annualcreditreport.com.
Scholarship and grant scams. Be wary of phone calls from companies guaranteeing they can help reduce loan payments or offer a hefty grant.
Online shopping scams. Online purchase scams can be especially effective when set up through social media platforms and apps. Impostor scams are becoming increasingly common on social media.
Test preparation scams. Scammers pretend to be companies that can help students pass exams, but once students correspond with the company, the scammers use the messages to blackmail the students into sending funds out of fear of being expelled for cheating.
As tech-savvy as current college students can be, a surprising number of scams reported to BBB’s ScamTracker are from students who learned their lesson too late. One of the best ways to protect your personal information and finances is to stay alert and aware of new scams. Use BBB’s Scam Tips to learn the latest scam trends and read local reports of specific incidents.