May 15, 2009, Newsletter Issue #119: Watch Out For Scams

Tip of the Week

Unfortunately, like everybody else in the world, students and their families are often targeted by scams aimed at stealing their money. So here are some things to look out for so you don’t end up losing money that could have paid for your education.

Remember that FAFSA stands for Free Application for Federal Student Aid. So if any organization offers a service where you pay them to file the FAFSA for you, report them to the Better Business Bureau (BBB). You can easily file this form yourself, either online or through the mail.

Another trick to watch out for is any financial aid seminar that requires a fee or offers to file your FAFSA at the end for you. Check out any seminars like this you come across with the BBB to make sure they are legitimate. There are so many free sources of information and guidance on financial aid for college that these seminars often turn out to be scams.

If it sounds too good to be true, it probably is. So if an organization says that they guarantee scholarships and federal student loans or will give you your money back, don’t believe it. No one can guarantee a scholarship, loan or grant for you, nor should they be charging you money to get one.

All the information you need is available to you and there is no point in paying someone else to do things for you.

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