Financial Aid Scams

Need money for college? Who doesn't ?  Students and their families are looking for creative ways to finance a college education.  Unfortunately, in their efforts to pay bills, many families are falling prey to scholarship and financial aid scams.

******************Attention High School Students and Parents*******************

Be aware of a current financial aid offer that may be a scam.  An invitation is sent to a high school student and their parents to attend a free personal interview. During the interview a company will try and help maximize your family's assistance and minimize your out-of-pocket expenses for a college education.  If you decided to attend please be aware that there should not be any cost to you in order to find federally based grants and scholarships.  The process should always be free should not require a processing fee or an enrollment fee.  If you have questions regarding the company that is hosting an event as described above you should first check with the Better Business Bureau www.bbb.org and see what information is available.

Federal Trade Commission Consumer Alerts

The FTC cautions students/parents to look and listen for certain tell tail lines or sales pitches such as:

• "The scholarship is guaranteed or your money back"

• " You can't get this information anywhere else."

• "I just need your credit card or bank account number to hold this grant/scholarship."

• " We'll do the work."

According to the FTC, unscrupulous companies guarantee or promise scholarships, grants or fantastic financial aid packages.  Many use high pressure sales pitches or tactics which require immediate payment or risk losing out on the "opportunity."

To file a complaint or get free information on consumer issues, visit ftc.gov or call toll free, 1-877-FTC-HELP (1-877-382-4357)

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Department of Education

Student Aid on the Web

http://studentaid.ed.gov/PORTALSWebApp/students/english/scam.jsp

 http://studentaid.ed.gov/students/attachments/siteresources/69.pdf

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 Federal Student Aid Commission

 Looking for Student Aid… without getting scammed

http://www.studentaid.ed.gov/PORTALSWebApp/students/english/lsa.jsp

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