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

Just Hang Up! posted on Jan 19

Just Hang Up!

Americans carry a considerable amount of credit card debt. According to NerdWallet, the average U.S. household debt is nearly $16,000, while the average interest rate is 13 percent. Unfortunately, consumers who struggle to get out from under their credit card debt often fall victim to   …Continue Reading Just Hang Up!

Child Identity Theft posted on Jan 17

  When most people think of identity theft fraudulent credit card purchases and stolen drivers licenses typically come to mind.  Child identity theft, though, is quickly growing and can be dangerous and damaging long-term.  According to a 2011 report from Carnegie Mellon, 10 percent of   …Continue Reading Child Identity Theft

Coming to a Channel Near You: NBC Boston posted on Jan 10

Do you like to watch The Tonight Show Starring Jimmy Fallon or Sunday Night Football? NBC’s contract with WHDH-TV (also known as Channel 7) expired at the end of 2016. For many viewers this change had no impact on their television watching. But for viewers   …Continue Reading Coming to a Channel Near You: NBC Boston