Wealth Building
Can I build wealth while I'm in college?
YES! The MoneySmart program is designed to help students better understand the importance of investing and benefits of building wealth early in life.
It is never too early to begin saving for retirement, a new car, buying a home, starting a business, or any other financial goal you may have!
Our MoneySmart Peer Mentors can help you begin to understand the basics of investments and many of the common ways that college students save money. Please note that we are not a financial advising resource and cannot give legal financial advice. If you are looking for details on investment strategies we would suggest you meet with a financial planner/advisor outside of the University.
Stop by the MoneySmart Lakers office to begin your wealth building journey today!
Scam Prevention
Investment Scams
Investment scams, including those involving cryptocurrency, often promise quick profits with little or no risk, which is a major red flag. Scammers may promote fake trading platforms, “guaranteed returns,” insider tips, or celebrity-endorsed opportunities shared through social media, group chats, or direct messages. Cryptocurrency scams are especially common because transactions are difficult to reverse and often lack the protections found in traditional banking. Fraudsters may pressure students to invest quickly, ask for payment in crypto, or request access to digital wallets or private keys. To avoid these scams, never invest money you do not fully understand, research companies and platforms through trusted sources, and remember that legitimate investments never guarantee profits.
Financial Aid & Student Job Scams
Financial aid and student job scams often promise easy access to grants, refunds, loan forgiveness, or high-paying jobs with little effort, which is a major red flag. Scammers may send messages that appear to come from a college, government agency, or employer and request personal information, school logins, or upfront fees. Fake job offers may involve depositing checks, transferring money, or sharing sensitive details before any real work begins. These scams commonly create urgency, claiming opportunities will expire if you do not act immediately. To avoid these scams, rely only on official school communications, never pay to receive financial aid or a job, and verify offers through your school’s financial aid or career services office.
TIPS
- Take your time before making any financial decision, especially if someone is pressuring you to act quickly.
- Verify the source of any offer, message, or request by contacting the organization directly using official contact information.
- Never share personal details such as Social Security numbers, bank information, passwords, or one-time security codes.
- Be cautious with links, attachments, and QR codes sent through email, text, or social media.
- Use strong, unique passwords for financial accounts and enable multi-factor authentication whenever possible.
- Monitor your bank and credit card accounts regularly and report suspicious activity immediately.
- If something sounds too good to be true, trust your instincts and seek advice from a trusted adult or financial professional.
TIPS
- Be cautious of emails or messages claiming you’ve been awarded financial aid, grants, or scholarships you did not apply for.
- Never pay a fee to receive financial aid, scholarships, or student loan forgiveness, legitimate programs do not charge upfront costs.
- Verify student job offers through your school’s official career services or financial aid office before responding.
- Watch for job listings that promise high pay for minimal work or ask you to deposit checks or send money on behalf of an employer.
- Do not share your school login, student ID number, or financial aid information with unsolicited contacts.
- Use your school’s official website or contact offices directly to confirm the legitimacy of aid offers or employment opportunities.
- Report suspicious financial aid or job-related messages to your school so they can help protect other students.