It happens every year. High school seniors and their parents are defrauded by scholarship scammers; people who promise to help them land scholarships and financial aid they wouldn't otherwise receive.
Estimates vary, but it seems likely that these crooks...and that is an appropriate word...collect in excess of $100 million annually from unsuspecting families.
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.
It all starts with a letter from a company with a name that makes it sound like a benign organization whose mission is to assist students and their families.
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.
In nearly all the letters they send, the con men begin by reinforcing families' fears about their ability to meet college costs.
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 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 group pitch is followed by individual meetings during which families are pressured to immediately pay for the services offered. Many yield to the pressure, writing checks in excess of $1,000 for a worthless set of services.
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.
Estimates vary, but it seems likely that these crooks...and that is an appropriate word...collect in excess of $100 million annually from unsuspecting families.
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.
It all starts with a letter from a company with a name that makes it sound like a benign organization whose mission is to assist students and their families.
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.
In nearly all the letters they send, the con men begin by reinforcing families' fears about their ability to meet college costs.
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 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 group pitch is followed by individual meetings during which families are pressured to immediately pay for the services offered. Many yield to the pressure, writing checks in excess of $1,000 for a worthless set of services.
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.
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.
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