Every day, thousands of people fall victim to fraudulent emails, texts and calls from scammers pretending to be their bank, a loved one, the government or law enforcement. And in this time of expanded use of online and mobile banking, the problem is only growing. In fact, the Federal Trade Commission’s report on fraud estimates that American consumers lost a staggering $12.5 billion to phishing scams and other fraud in 2024 — an increase of 25% over 2023.

Financial exploitation is one of the most common forms of abuse committed against older Americans. According to a Metlife study, an estimated $2.9 billion is lost annually to scams explicitly targeting seniors. 

More than 70 percent of college graduates began their career owing more than $37,000 in student loans in 2016.