Students urged to stay alert for scams as January student finance payments approaches

January marks the second maintenance loan instalment for many students whose courses started in autumn – and the first payment for those starting courses in January – making this a period where scammers will be targeting students.

Each year, SLC pays billions of pounds directly into students' bank accounts. Scammers take advantage of these payment windows by sending out convincing text messages, emails and phone calls that appear to come from trusted organisations, often claiming there is an issue with a payment that needs urgent action.

Alan Balanowski, Risk Director at SLC, said: “Whether this is your second maintenance instalment or your very first, scammers know that students will be expecting money in January and may be more likely to engage with messages that appear urgent or official.

“SLC will never ask you to confirm your personal or bank details by text or email. If something doesn't feel right, pause, don't click, and check your information through your secure online account.”

Lord Hanson, Fraud Minister, said: “Scammers are highly skilled at targeting students, especially during busy periods like the start of a new term. That's exactly why this government is expanding our Fraud Strategy to deliver even stronger safeguards.

“I urge every student not to underestimate these criminals. Anyone can fall victim, but a moment's vigilance can make all the difference between safety and serious financial loss. For trusted advice remember to search Stop! Think Fraud.”

Students starting their courses in January and receiving their first student finance are being encouraged to familiarise themselves with how SLC communicates and to take extra care with unexpected messages and emails.

SLC's top tips for spotting and stopping a scam

• Check the quality of the communication - misspelling, poor punctuation and bad grammar are often tell-tale signs of phishing.
• Keep an eye out for any emails, phone calls or SMS messages you think are suspicious, especially around the time you're expecting a payment.
• Scam emails and text messages are often sent in bulk to many people at the same time and are unlikely to contain both your first and last name. These commonly start - ‘Dear Student' - so be on guard if you see one like this.
• Messages that convey a sense of urgency are also unlikely to be genuine – for example ‘failure to respond in 24 hours will result in your account being closed'.
• Think before you click. If you receive an email or SMS that contains a link that you're not sure of, then hover over it to check that it goes where it's supposed to. If you're still in any doubt don't risk it, always go direct to the source rather than clicking on a potentially dangerous link.
• Scammers can use a variety of methods to try and get you to pay money or share personal details, including the use of fraudulent phone calls, social posts and direct messaging on digital platforms. If you are suspicious of being contacted, always use official phone numbers, your online account and official communication channels to verify the contact you received is genuine.
• Students should also be mindful of the information that they share about themselves on social media, and elsewhere online, to help guard against identity theft. Identity theft happens when fraudsters access information about a person's identity, such as their name, date of birth, customer reference number, course information or their current or previous addresses to impersonate them online and over the phone.
• Check out our guide to identifying a scam at www.gov.uk/guidance/phishing-scams-how-you-can-avoid-them

SLC also has a range of methods to protect students, including sending a SMS to customers in England if a change has been made to their banks details and asking them to confirm the change. If a customer hasn't changed their details but receives a message, they should log into their online account to review their information.

SLC will also never ask students to provide their personal or financial information via email or text message. If a student receives a suspicious message, they should report it to SLC's Economic Crime Unit immediately by emailing report@phishing.gov.uk and calling the dedicated hotline on 0300 100 0059.  Students can also report a scam text to the National Cyber Security Centre. Neither SLC or Student Finance England (SFE) provide any services through WhatsApp and will never initiate contact with a student through social media channels to discuss their application or student finance entitlement. If a customer receives a communication from SFE that they are unsure of, they should log into their online account to verify if it's genuine.

There is also a range of additional advice and information on recognising and avoiding scams from Action Fraud, the UK's national reporting centre for fraud and cybercrime, as well as Stop! Think Fraud, a campaign from the Home Office.