Tis the season for scholarship scams
Tis the season for scholarship scams
A timely alert from Dick Eppstein of the Better Business Bureau of Northwest Ohio and Southeast Michigan: Student loan scams are likely to make their seasonal appearance in the next few weeks, just as seniors are getting college acceptance letters and scouting for additional sources of cash.
One of the keys to exploring financial aid is the Free Application for Federal Student Aid, or FAFSA. The application is available at no charge at the FAFSA Web site but there are some unscrupulous companies out there charging between $50 and $2,000 to complete the application on the students’ or parents’ behalf.
Sometimes college-bound students also are invited to “free” seminars where college consulting firms pressure them into buying services they don’t need. Be wary.
Sometimes college-bound students also are invited to “free” seminars where college consulting firms pressure them into buying services they don’t need.
February 20th, 2007 at 11:31 am
Blanket indictments of college planning services are neither prudent nor accurate. Consumers should be cautious, but informed. Ignorance of the college admissions and funding process is widespread and some of the most grievous offenders are the very people consumers rely on for their information.
Parents and students seeking legitimate assistance for a modest fee may wish to simple do a Google search for “college consultants” and click the button labeled “I’m feeling lucky.”
Here is a presentation from the CBS news program SUNDAY MORNING that highlights the value of seeking outside help.
http://www.cbsnews.com/sections/i_video/main500251.shtml?id=2036716n
Beware of those who discount all planning services. What are these so called “scam busters” afraid consumers will learn? Who pays the price if they are wrong? What consumers should truly be wary of are those who advocate you can get everything for FREE through your school or the Internet. Filing taxes is FREE too but I know of very few who use the IRS as their primary tax planning or preparation source. Most of us prefer to hire an advocate who looks out for out best interests. Don’t make the mistake of being penny wise and dollar foolish. Robert Taylor, JD