Students are being urged to be careful with the information they disclose online as fraudsters capitalise on a lack of caution.
Thieves are potentially able to steal a student loan if information such as a date of birth, relationship status or email address is publicly available.
Last year, 1,600 students were targeted by a technique known as phishing as thieves tried to steal student loans.
Typically, phishing involves an email or Facebook request that appears legitimate but actually acquires enough information about an individual for them to become a victim of fraud.
Security experts recommend that students ensure personal information remains private on social networks, and advise that users think before allowing others access to it.
Students who believe they have been targeted should alert the special investigations unit at the Student Loan Company.
Have you been affected? We want to hear from you: comment below or email firstname.lastname@example.org