April 13, 2007, Newsletter Issue #12: Donít Pay To Apply For Financial Aid

Tip of the Week

There are many scams out there just waiting for a sucker to come along. Donít be that sucker! If someone tells you that you qualify for financial aid but they need money from you upfront, donít believe them. Instead get the information about what they offer and report it to the Better Business Bureau or Federal Trade Commission. The Free Application for Federal Student Aid (FAFSA) is just that Ė free. While there are many scams out there, some ask the student to provide banking information say the money can be automatically transferred to them. Never give out any information like that. It could leave you with more debt and hurt your credit.

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