View PDF | Print View | Html Version
by: DanielZ.Kane
Total views: 4
Word Count: 410

Every year, without exception, sophisticated swindlers promising to help families qualify for extra financial aid instead swindle them out of large sums of money.

One financial aid organization believes these scammers defraud families out of more than $100 million dollars a year.

They do it by playing on the fears of families who are scared by the cost of college and have not been well educated on all the legitimate help available to them.

First, families receive a letter from an organization with a name designed to sound like it was founded to help the families of college-bound students.

The letter doesn't look like typical junk mail. The logo often looks like that of an Ivy League college, and the letterhead and paper are generally on fairly high quality paper. Like the con men behind them, the promotional materials look credible.

The letters almost always begin by frightening families about the high cost of college.

Once they have stated the problem...paying for college...they assure you they can provide the solution. They may offer to "teach you the secrets of financial aid", "locate millions of dollars in unused scholarships", or otherwise help you take advantage of their special expertise.

The letters are not always the same, but one element is. They invite you to come to a hotel function room or other reasonably large venue to learn more about financial aid and scholarships, at no cost. Sounds like a no-brainer, right? If you think so, think again.

The meetings are run by well- practiced pitchmen who tell families they have the special knowledge and experience required to shake the most money off of the financial aid and scholarship trees. In reality, they want to sell you services and help which are readily...that's right, readily... available elsewhere. At no cost.

The initial presentation is followed by an individual meeting with a high pressure salesperson who uses a well-formulated approach...like those of the very worst car salespersons...developed to collect up to $2,000 and a signed contract from families before they have had too much time to think about it.

Every year, a new set of potential victims come along. But, you and your family can avoid these masters-of-rip-off by turning to the people who really do have your best interests at heart...school counselors and college financial aid professionals.

Most important of all, never pay anyone for financial aid advice or services. Never.

About the Author

Daniel Z. Kane is a university dean with websites offering information on scholarships, online schools, online degrees, and online colleges .

Add Comment