Trading Standards - Student Loan Scams

26th September 2024

Students heading to university are being targeted by scammers trying to access their student loan accounts. These scams are particularly prevalent during September and October, when student loan payments are released.

Several students have received cold calls, text messages or emails purportedly from SAAS (Student Awards Agency Scotland), asking them to share personal or payment details.

Once the scammer has this information, they can log in to the student's SAAS account and change the bank details, meaning that future loan payments will be diverted to their own account.

SAAS have also warned that some students have received emails purportedly from their institution asking for payment of tuition fees. The emails use pressure tactics, saying that if a payment is not made immediately the student may have to leave their course.

How to Avoid
SAAS advise on their website that they will never email you asking you to log in to your SAAS account or ask you for your password or bank details.
They advise students not to respond to any unexpected message asking them to confirm personal login information and not to take any action until they have verified that the email address of the sender is legitimate.

Suspicious emails regarding student loans can be forwarded to the SAAS fraud prevention team at saascft@gov.scot
If you think you may have given your log-in details to a scammer, contact the SAAS Counter Fraud Team immediately on 0300 300 3138.

Find out more
SAAS Fraud Prevention advice: www.saas.gov.uk/about-saas/fraud-prevention
Police Scotland Student Online Safety Guide: www.scotland.police.uk/advice-and-information/student-online-safety-guide
Advice on staying safe online from Cyber Scotland: https://www.cyberscotland.com/online-safety-tips-for-students/
Advice on student safety from Get Safe Online: www.getsafeonline.org/saferstudents