The annual report on identity fraud. released by Javelin Strategy and Research showed that young adults between the ages of 18 and 24 took the longest to recognize identity theft, according to AJC.com This resulted in a total cost of $1,156 on average for college-aged students, around 5 times more than other age demographics.

Students who want to protect themselves from falling prey to identity thieves should be sure to have all sensitive mail sent to a secure address. Dorm mailboxes may be at a higher risk than home addresses or post office boxes.

When students receive credit or debit card statements, they should spend time looking over the statement to ensure that there are no erroneous or suspicious charges. All important documents should then be kept under lock and key to prevent them from falling into the wrong hands, the news source reports.

According to the Wall Street Journal, Americans owe approximately $826.5 billion in credit card debt and $829.79 billion in student loans. Students who choose not to use credit cards not only reduce their risk of identity theft, but also will likely have less debt in the long run.