Post Content

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.

Written By:

Recent Posts

Immigration Scams posted on Mar 27

Immigration Scams

  The call to strengthen the United States’ borders has opened a new window of opportunity for con artists who are capitalizing on fear and uncertainty. The Boston Globe reported earlier this month that there has been an uptick in scammers posing as federal agents,   …Continue Reading Immigration Scams

Car Buyer Beware: ”Buy Here Pay Here” Used Car Financing and Sales are Riddled with Pitfalls posted on Mar 23

Car Buyer Beware: ”Buy Here Pay Here” Used Car Financing and Sales are Riddled with Pitfalls

  Many consumers need a loan to purchase a used vehicle. Consumers with poor or no credit will often seek financing from the dealer they are buying a car from. This financing is commonly referred to as “Buy Here Pay Here,” and it lets dealers   …Continue Reading Car Buyer Beware: ”Buy Here Pay Here” Used Car Financing and Sales are Riddled with Pitfalls

Apps – Access Denied posted on Mar 21

Apps – Access Denied

  Almost everyone is guilty of passively downloading a new app for their mobile device. And why not? Apps are great. But consumers should recognize that there are risks in the marketplace. A woman from California used her debit card to buy a slot machine   …Continue Reading Apps – Access Denied