Scammers Target Students Ahead of Maintenance Loan Payments, Guardian Reports

Scammers are attempting to exploit anxious new university students by sending fraudulent text messages just before the first instalment of their student maintenance loans is due, the Guardian reported.

According to the report, students preparing to start university have received messages claiming that their bank details on their student finance account were changed on a specific date, urging recipients to contact the sender immediately if they did not authorise the change.

The Guardian said the scam is timed to coincide with the period when £2.6bn in student maintenance funds is paid out each September, a period when students are particularly anxious about receiving their first loan payments.

The report did not specify further details on how many students have been targeted or the financial losses involved, but noted that scammers hope to siphon off some of the maintenance funds by tricking students into revealing personal or banking information.