Fraudsters target student loan instalments

Fraudsters target students

The Student Loans Company has reported an increase in scam emails, targeting students’ last (and largest) loan instalment of the year. It has had to close down a number of scam sites and are closely monitoring a new wave of phishing emails which are being sent to students.

The final student loan instalment in April is generally the largest that students receive, as the point of it is to make sure you have money over the long summer period.

Fiona Innes, Head of Counter Fraud services at the Student Loans Company said: “We want to remind customers that we will never request a customer’s personal or banking details by email or text message. Anyone who receives a scam email about student finance should send it to us at, as this allows us to close the site down and stop students from being caught out.

“Online fraudsters are aware that students are receiving their funding this month and are targeting them and their sponsors with emails and texts requesting personal and banking details to access their finance. We want to remind students to stay vigilant with the details they provide online and to be mindful of the personal information about themselves they post online and on social media too.”

If you’re worried and want to know more, check out its Staying Safe Online video on YouTube.

This is a real threat, as over the last three Septembers alone, Student Finance England’s security teams have prevented over £1.5 million of students’ initial maintenance payments being stolen through ‘phishing’ scams aimed primarily at freshers.

Have you had one of these emails? Let us know -