These kinds of guardrails can help students build smart habits while giving parents peace of mind. Debit vs. credit: What every college student should knowFirst, make sure they understand the difference between debit spending and credit card spending. How involved should parents be in a college student’s finances? How can college students avoid online scams? College students can avoid online scams by being skeptical of unsolicited messages, avoiding pressure to act immediately, and never sharing personal information or payment details without verifying the source.