The years directly following college are often the time when a graduate settles down, gets a job and buys that first new car or house. But some are discovering after being denied for a loan, that debts racked up by a stranger have ruined their credit.

There are many stories like these on TrustedId.com, which provides credit and identity protection resources. According to the Web site, the Federal Trade Commission̢۪s most recent statistics found that college students are among the group most often victimized by identity theft.

Criminals use stolen addresses, driver̢۪s license numbers, social security numbers and credit card information in different ways. Many use the information to gain access to credit cards, open credit accounts of their own or apply for things such as passports and loans.

“A lot of these less-than-scrupulous individuals will fill [application] information out with whatever they can find out about you,â€Â said police Lt. Don Gross, head of the Fresno Police Department’s financial crimes investigations. “They send it back with a different address and pretty soon they can get a credit card in your name.â€Â

A new problem that has arisen in the digital age is the prevalence of personal information that is available on the Internet. Many students reveal more than they should on MySpace and Facebook pages, which criminals can easily access.

“Personal information that is often used to verify credit accounts is … all over the Net,â€Â Gross said. “You go to a lot of people’s MySpace accounts, and just short of their social security number, you’ll know everything about them. We are very open in a digital age.â€Â

Another common source of identity theft on college campuses are lost backpacks, purses and wallets, said Amy Armstrong, public information officer for Fresno State̢۪s University Police Department.

“[Criminals will] make purchases with credit cards and checks,â€Â Armstrong said. “They can spend a lot of money of yours that go to your credit.â€Â

Additionally, because of how easy it is to apply for a credit card, most students carry all of the information necessary for a criminal to open new accounts in their name.

“Banks make billions of dollars a year off of interest they charge for credit cards,â€Â Gross said. “Because of that, the losses that they see in these types of frauds they write off and charge it to a business expense. What that does is it propagates the problem.â€Â

Armstrong said the first thing a student needs to do after losing a purse or wallet is to cancel all credit accounts and notify financial institutions immediately. Then a police report needs to be filed to prove the items were lost if a problem with credit arises in the future.

If victims believe their identity has been stolen, the Fresno Police Department recommends that they call the fraud units of the three major credit reporting companies – Equifax, Experian and Trans Union – to report the theft.

Students who have lost their information should also get credit reports from these companies periodically to check if any credit accounts have been opened fraudulently in their name.

Armstrong herself lost a purse a few years ago. After someone used her checks to buy items, she began checking her credit report regularly.

“They had my information,â€Â Armstrong said. “Fortunately, they did not try to open anything in my name, but that’s something I watched because they did have my address, they did have my name.â€Â

Many students are not aware of the number of problems that can arise from losing their wallet.

Fresno State English major Rachel Shillito, 21, lost her wallet while on vacation in San Diego this past May. Shillito immediately canceled her credit cards, but did not know that there were other issues to watch out for.

“Maybe I should be worried,â€Â Shillito said. “It makes me angry at the credit card world. They don’t care. They get money no matter what.â€Â

Gross said students should be aware of potential problems because identity theft is a rapidly growing and evolving crime with less severe consequences than other types of crime.

“This will be your new drug dealing. This will be your new car jacking,â€Â Gross said. “Because it’s a financial crime and there’s no victims getting physically hurt, courts tend to view it as not dangerous.â€Â