Every year, without exception, sophisticated swindlers promising to help families qualify for extra financial aid instead swindle them out of large sums of money.
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.
The first contact between the scammers and their potential victims is a letter offering expert advice and assistance.
The letters look good. The letterhead design, the font style, and other elements are calculated to give the appearance of an established, legitimate organization. And, that can be all it takes to fool families...to get them to take the next step on the path to being scammed.
The letters almost always begin by frightening families about the high cost of college.
But, the letter says, we can help. We can show you how to receive more financial aid. In some instances the letters will mention "secrets colleges dont want you to know. Sometimes the letters will talk about millions of dollars in "unused" scholarships and financial aid; money just waiting to be found by and given to students who know the ropes.
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.
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.
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.
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.
The first contact between the scammers and their potential victims is a letter offering expert advice and assistance.
The letters look good. The letterhead design, the font style, and other elements are calculated to give the appearance of an established, legitimate organization. And, that can be all it takes to fool families...to get them to take the next step on the path to being scammed.
The letters almost always begin by frightening families about the high cost of college.
But, the letter says, we can help. We can show you how to receive more financial aid. In some instances the letters will mention "secrets colleges dont want you to know. Sometimes the letters will talk about millions of dollars in "unused" scholarships and financial aid; money just waiting to be found by and given to students who know the ropes.
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.
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.
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.
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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