Scams and Risks 

This document provides advice and guidance on making sensible financial choices to minimise any adverse risks to your future such as credit and debt, overdrafts and loans (both student and payday).

We have also detailed some scams that we have unfortunately seen in recent years targeted at University of Manchester students in order to help you to avoid these and provide advice on what to do if you are the victim of fraud. 

Key Information

  • Remember your overdraft has to be paid back, the bigger the overdraft the more money you will have to repay in the long term.
  • Avoid the temptation of a payday loan where possible, they are often hard to pay back and have high interest rates. If you find yourself in financial hardship, contact Student Funding Team in the Student Services Centre or the Students’ Union Advice Team for further information.
  • Unfortunately there are a few money scams which are targeted at students. The two most common scams are money laundering and accommodation scams – this document provides advice and guidance on how to avoid falling into these traps.