The Student Loans Company (SLC), which handles government loans to students studying in the UK, is contacting some of its customers amid fears it has been the victim of fraud.
The firm will be telephoning those customers that it has "identified as being at risk of having their personal details compromised" as a result of a phishing attack.
Heather Laing, fraud prevention and detection manager for the Student Loans Company, says: "We would advise all students to be vigilant with their personal details. Student Finance England or the Student Loans Company will never ask you to verify your personal or bank details by email."
The company has declined to confirm how many customers may have been affected by the latest scam but given that it has four million customers the number could be high.
SLC has been faced with numerous ‘phishing' attacks in recent years – 1,400 fake websites have been shut down this year alone.
Phishing is an email scam in which a legitimate-looking message is sent out in order to harvest personal details such and bank account numbers.