College Costs | Being Scam Savvy | Debt Management | Personal Finance

Being Scam Savvy

College is an expensive venture for most families.  Not surprisingly, everyone is intrigued by offers for financial aid.  But are some of those offers too good to be true?  Sadly, many of them are.

If you're a high school junior or senior, you've probably noticed you get a lot of stuff about college in the mail.  Some of the information is about college choices.  Some of it may be offers to search for scholarships.  Your parents might be getting information on financial aid "seminars".  Be very careful when you review this information-- some places might be offering things they can't deliver.

The first key to remember about financial aid is this-- there is only one application used by the Department of Education.  It is the Free Application for Federal Student Aid (FAFSA).  Some schools might have institutional applications-- which are legitimate-- but there is no other federal form.  On-line, this form is available only one place:  http://www.fafsa.ed.gov.  BE CAREFUL!  There are other websites which may have "FAFSA" in the domain name, but they are not official Department of Education sites.  Remember, it's called the FAFSA for a reason-- it's FREE!  (Except for a postage stamp.)

Other scams are likely to involve scholarships.  If you are asked to put a deposit before receiving a scholarship, be wary-- it might be a scam.  Also, remember that no one can guarantee you money. 

There are some wonderful websites which offer 100% free searches.  Funding your college education does require some effort on your part.  Research scholarship opportunities.  Be scam savvy.

For more information on scams, including where to report them to, visit FinAid.  While you're there, check out their scholarship search, FastWeb-- it's considered by many to be the best on the web.