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.
Because college costs scare nearly all of us, and because many people do not realize that there is money available to help them send their children to college, these scammers have found it very easy to find and exploit their victims.
The first contact between the scammers and their potential victims is a letter offering expert advice and assistance.
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.
After a few sentences of doom and gloom about the high cost higher education, the sales message begins. We can help you get more in scholarships and financial aid, they say. We can tell you what colleges don't want you to know, they say. Work with us, they tpromise, and you won't have to be concerned about college costs.
What all the letters have in common is that they invite families to a free "seminar, often at a local hotel. Because the letter offers the hope of extra financial aid, and because the evening is free, many families accept the invitation. Thats mistake number two.
The gathering, whatever it is called, is a well rehearsed sales pitch. The gist...you need money, we can help you get it. And, nowhere do you get the one piece of information you need most...everything of value these people can offer you is available elsewhere, for free.
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.
Don't be the victim of financial aid con men (and women). There are lots of good websites offering free scholarship searches and financial aid advice. And, high school counselors and college financial aid counselors will gladly give you advice and answer your questions. There is no need to turn elsewhere. - 16492
One financial aid organization believes these scammers defraud families out of more than $100 million dollars a year.
Because college costs scare nearly all of us, and because many people do not realize that there is money available to help them send their children to college, these scammers have found it very easy to find and exploit their victims.
The first contact between the scammers and their potential victims is a letter offering expert advice and assistance.
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.
After a few sentences of doom and gloom about the high cost higher education, the sales message begins. We can help you get more in scholarships and financial aid, they say. We can tell you what colleges don't want you to know, they say. Work with us, they tpromise, and you won't have to be concerned about college costs.
What all the letters have in common is that they invite families to a free "seminar, often at a local hotel. Because the letter offers the hope of extra financial aid, and because the evening is free, many families accept the invitation. Thats mistake number two.
The gathering, whatever it is called, is a well rehearsed sales pitch. The gist...you need money, we can help you get it. And, nowhere do you get the one piece of information you need most...everything of value these people can offer you is available elsewhere, for free.
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.
Don't be the victim of financial aid con men (and women). There are lots of good websites offering free scholarship searches and financial aid advice. And, high school counselors and college financial aid counselors will gladly give you advice and answer your questions. There is no need to turn elsewhere. - 16492
About the Author:
Daniel Z. Kane is an educator who produces websites on online degree programs and online college degree programs at the graduate level.
