Itâs that time of the year again, the time during which scholars of all age search out financial aid services to help pay for college. While there are definitely many possibilities available, there are also many fraudsters that are looking to take advantage of unwary learners. The ripping off of scholars is big business. So big, actually, that the Motley Fool says that college student financial aid services scams bilk more than $100,000 a year from relying on people. Here are some of the more typical financial aid services frauds to be careful of:
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Scholarship Search Fees – According to the official web page of federal student aid, learners should be very careful of websites that need learners to pay for grant queries. Although there are some reliable organizations that do the job they guarantee, there are far more that are simply fishing for fast cash. These greedy websites use bad company methods such as high-pressure revenue to get learners and their parents to subscribe and pay search fees. This is needless, however, since learners can quickly work their own queries and find grants without spending fees to an outside party.
Charges for FAFSA Help – Most scholars apply for government college student aid through the online Free Application for Federal Student Aid or FAFSA. There are many professional websites that offer to help learners finish the FAFSA for a cost. Students should keep in mind, however, that the first âFâ in FAFSA stands for FREE, because that is exactly what the FAFSA is. The formal FAFSA site provides a wealth of specific, easy-to-understand information on finishing the form. If it is still a difficulty, most educational institutions will help learners finish the form at no cost.
Grant Application Fees – Trustworthy grants companies require no up-front fee to apply for scholarship. They also hardly ever contact learners using random postal mail or e-mail. If you receive any communication labeling you as a scholarship competition finalist and asking for a fee, you should instantly suspect scams. Also miss offers that demand personal financial details such as bank card or financial numbers. Many of these demands lead to identity scams or illegal fees to your account.
