Student Loan and Scholarship Scams
Monday, June 26th, 2006
When you are searching among suitable ways of paying for your education you will probably stumble over various types of scams and frauds connected to student loans, scholarships and grants. Some are easily identified as scams and frauds, while others are much ore cunning and can look very sincere at first glance. Estimates from the US Federal Trade commission show that prospective students and their families loose millions of dollars each year to scholarship and student loan scams. There are a lot of good and respectable foundations and agencies out there and by following the advice offered further down in this article; you will increase your chances of sorting the ones good from the bad.
Some companies claim that it is virtually impossible to fill out an application for a federal student loan without hiring expertise help. This is however not true. You can of course hire a consultant if you feel that you like someone to guide you through the application process, but it is definitely not a must. Also keep in mind that you are responsible for the accuracy of the facts entered into your application even if you hire someone to do it for you. If you need any help when applying for a federal student loan, you can always contact the Federal Student Aid Information Center by calling 1-800-4-FED-AID (1-800-433-3243). They provide comprehensive information free of charge regarding all the different types of federal student loans that you might be eligible for.
When contacted by a company that offers to help you with your application for a student loan or a scholarship, there are some telltale lines that should arouse your suspicion. Of course, the mere fact that a company does not use these phrases is in no way a guarantee of the reliability of the company. These seven sentences listed below are all commonly used telltale lines in scams regarding student loans and scholarships… Read the Article
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