Despite all of the stories to the contrary, there are probably numerous honest people selling used cars. The same can't be said about people who claim to be able to help families, for a fee, increase the amount of college financial aid they will receive.
One financial aid organization believes these scammers defraud families out of more than $100 million dollars a year.
They do it by preying on families worried about the cost of college; families who know little or nothing about scholarships and financial aid; families who are often easy targets.
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.
In nearly all the letters they send, the con men begin by reinforcing families' fears about their ability to meet college costs.
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.
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.
Ultimately, attendees are subject to a group sales pitch for the companys services. The pitches are not exactly the same, but all promise that their services will result in students receiving more money for college. And, none tell you that everything they offer is either unnecessary or can be gotten elsewhere, at no cost.
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.
Its sad. And, it happens every year. Dont let it happen to you. Get all of your financial aid advice from your school counselor, college financial aid office, and reputable publications and websites. Most important of all, never pay anyone for financial aid advice or services. Never.
One financial aid organization believes these scammers defraud families out of more than $100 million dollars a year.
They do it by preying on families worried about the cost of college; families who know little or nothing about scholarships and financial aid; families who are often easy targets.
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.
In nearly all the letters they send, the con men begin by reinforcing families' fears about their ability to meet college costs.
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.
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.
Ultimately, attendees are subject to a group sales pitch for the companys services. The pitches are not exactly the same, but all promise that their services will result in students receiving more money for college. And, none tell you that everything they offer is either unnecessary or can be gotten elsewhere, at no cost.
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.
Its sad. And, it happens every year. Dont let it happen to you. Get all of your financial aid advice from your school counselor, college financial aid office, and reputable publications and websites. Most important of all, never pay anyone for financial aid advice or services. Never.
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.
0 comments:
Post a Comment