NextAdvisor quick guide to identity theft protection for college students

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August 17th, 2010 - Posted by Kent

School is just about starting for millions of college students across the country. We would guess that most of those students aren't thinking much about identity theft. But that doesn't mean that they shouldn't.

Identity theft among college students is also known as "friendly fraud" because the perpetrators are often casual acquaintances or room mates. It's during college that many young people first apply for credit cards and open up their own bank accounts. This is one reason why college students are at an increased risk, since most have not played a significant role in their own finances before. They are often not used to monitoring their credit and bank accounts.

College students by-and-large live in communal situations, living with roommates and in dorm rooms. This means exposure to a lot of new people, not all of whom are trustworthy. Mail is often lost, stolen, or misdirected. Credit card statements can be gold to a potential identity thief.

Another risk comes from the Internet. Many college students will find themselves in possession of their own computers for the first time, or using public computers in libraries, computer labs and dorm rooms. If those computers are not secured and are infected with spyware, personal information is just a click away for identity thieves.

The big shock to me, upon entering college, was how often I was asked for my social security number: at the financial aid office, the library, the student health center, the office, the ubiquitous credit card tables—heck, I could barely get a salad in the cafeteria without handing over my social security number. Often the people processing these transactions were students themselves, not people I had a lot of faith in.

Tips:

1. Keep an eye on your mail. Consider using a post office box for important financial documents, or sign up for online payments and billing. When you move, make sure your mail follows you.
2. Watch your bank and credit card balances. The beginning of the school year is a time for high credit card use, so watch for anything unusual.
3. Get a paper shredder and a locking file cabinet. No, these aren't the coolest of dorm room accessories, but they can keep important documents safe from prying eyes. A safe deposit box is also a good idea for passports, birth certificates, and other sensitive documents.
4. Get a lockdown cable for your computer. You can use it to lock your laptop, desktop, or tablet PC to your desk. You have more personal information on your laptop than you realize. While you're at it, password protect your computer.
5. Avoid using public computers for sensitive data input.
6. Invest in identity theft protection. This way you can be alerted to fraudulent activity before it wrecks your finances.
7. Keep your computer protected with Internet security software. Identity thieves use malware and spyware to steal personal information.
8. Be careful of whom you give your social security number to. Also, watch for eavesdroppers.
9. Secure your living space. Parties are the hallmarks of collegiate life, but they can also leave your living space open to people you don't know. Keep your valuables hidden and locked down.

The more precautions you take, the less you'll have to worry about. That way you can spend more time on the stuff that matters.