College Students at Risk
Communal living that makes personal information easily accessible, Universities that use social security numbers for identifying students and increasing number of credit card offers are just a few of the many ways students are being put at risk for identity theft.
Students assume that they don’t have anything to steal because they don’t have any money. But, identity thieves aren’t always after money. Since college students generally have no more than one credit card and a student loan or two, yet they are prime targets for identity theft because they have clean records. And, on top of that, their identities are usually pretty easy to steal.
Students are an easy mark for a number of reasons
• They’ve got favorable credit histories
• They give out Social Security numbers often – whether for school IDs, new credit card applications or rental applications
• Their personal information is easily accessible in high-traffic dorms
• They tend to post personal information on blogs and social networking sites such as Facebook
• They often access unsecured Wi-Fi networks, leaving them susceptible to file stealing
• They’re not terribly concerned about Identity theft. What, me worry?
What Can You Do to Protect Your College Student?
If you know a student who is preparing to head back to college in the fall or going off for the first time, here are five tips to help him or her set up some safeguards.
1. Outfit his or her dorm room or apartment with a paper shredder. Statistics prove that college students throw out all junk mail in exactly the same form it came in. Most don’t even open envelopes of pre-approved credit card offers. In some cases, college students throw out their student loan documentation or correspondences from the university containing social security numbers and other personal information without destroying it first. Dumpster diving identity thieves target dumpsters behind college dorm rooms or near campus mail facilities. Help the college student in your life greatly reduce his or her risk of identity theft by purchasing a shredder and explaining why it’s important to use it. You might even suggest a regular shredding party!
2. Teach your student the importance of reconciling his or her bank statement each month. With all the online banking that students are doing, they don’t realize the need to reconcile their bank statements each month. As a result, identity thieves have a greater chance of getting away with a crime on an existing account without ever being detected. This could create significant problems for students who keep just enough money in their bank accounts to survive. If even $50 was stolen from a bank account, and a student isn’t aware of it, an overdraft of available funds may occur resulting in fines and late fees on bills that were actually paid on time. Reconciling your bank statement and your checkbook every month is one of the easiest ways to spot existing account fraud and stop identity thieves. Remind your student that it’s not his or her own transactions that really need to be monitored as much as it is fraudulent activity that may go unnoticed. Also, it’s a great way to help them maintain their basic math skills!
3. Contact the university and ask them not to use your student’s social security number to identify your student or to post grades. With identity theft so prevalent these days, many universities are switching to systems that generate completely random identification numbers for student ID cards, but many universities still employ the age old practice of using student social security numbers to post grades and test scores. If this is the current practice at the university your student will attend contact the university and request that a different number be assigned to your student. Explaining the reason why you don’t want them to use the social security number might help them eventually change the school policy.
4. Consider purchasing a stolen identity coverage product, NOT just a monitoring service. Because some things about protecting your student’s identity are beyond your control (for example, will he or she even follow your suggestions) purchasing a product such stolen identity coverage is a worthwhile investment. The problem with identity theft is that, unlike a home invasion, identity theft happens silently and for the most part, invisibly. However, the damage can be just as costly and take months to clear up. And while alarms may tell you something has happened, they will be too late if your student’s identity is stolen!
5. Install security software on your student’s computer and teach him or her to use strong passwords. Most college students experience some form of communal living whether in dorm rooms or apartments shared with roommates, so it is important that your student’s computer (especially if it is a laptop) be equipped with additional security features to prevent friends or roommates from accessing your student’s personal information when he or she isn’t around. Even if your student trusts his or her roommates, a roommate’s friends may not be so trustworthy. Statistics prove that many victims of identity theft are at least casually acquainted with the thief. Teach your student the importance of creating strong alphanumeric passwords, and changing them frequently. Stress that passwords become pointless if they are shared with other people. Make sure your student also has security software that will protect his or her computer from viruses spread through email. Remember that being proactive and taking all identity theft prevention will safeguard the personal information and help protect against any fraud.
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