Even in a slumping economy, the cost of a college education continues to rise, and college-bound students and their parents are seeking any financial assistance they can get. However, there are financial frauds and scholarship scams out there that parents and students of which parents and students should be aware.
If you’re researching college education financing, make sure you’re aware of some of the warning signs of a scam. You shouldn’t have to pay a fee for a scholarship, you should apply for scholarships yourself, and you should not have to offer up credit card or bank account information to receive funding. For more warning signs, read this Consumer Advisory (PDF).
As with any case of potential financial fraud, if you think you are a victim, make sure you contact your bank or credit card company, explain the situation, and request that your account be closed or monitored. If you think you’ve received a fraudulent offer, contact the Office of Consumer Affairs and Business Regulation, and the Attorney General’s Office. You can report the fraud to the U.S. Department of Education’s Office of the Inspector General, the Federal Trade Commission, and the National Fraud Information Center.
Warning for College Students posted on Apr 24
College students at Boston University have been targeted by scammers while using ATMs along Commonwealth Avenue. The students report being approached by individuals who offer a check in exchange for cash. The scammer claims that he is having trouble accessing his bank account (or …Continue Reading Warning for College Students
Buying a car on Craigslist? Know who you are buying from! posted on Apr 21
Consumers often consider buying from a private seller as an alternative to buying from a used car dealer. An increasingly common scam involves dealers posing as private sellers and posting vehicles under the “for sale by-owner” section of Craigslist. This practice is also known …Continue Reading Buying a car on Craigslist? Know who you are buying from!
Bringing Down the Hammer on Bad Contractors posted on Apr 19
Massachusetts law requires any contractor performing certain home improvement work to an existing, one-to-four unit, owner-occupied home to register as a Home Improvement Contractor with the Office of Consumer Affairs and Business Regulation. The law regulates the practices of home improvement contractors and provides …Continue Reading Bringing Down the Hammer on Bad Contractors