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Watch out for Scholarship Scammers
Despite all of the stories to the contrary, there are probably numerous honest people selling used cars. The same can't be said about people who claim to be able to help families, for a fee, increase the amount of college scholarships money aid they will receive.
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 preying on families worried about the cost of college; families who know little or nothing about scholarships and financial aid; families who are often easy targets.
It all starts with a letter from a company with a name that makes it sound like a benign organization whose mission is to assist students and their families.
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 generally start by appealing to fearby talking about the high cost of college.
After a few sentences of doom and gloom about the high cost higher education, the sales message begins. We can help you get more in scholarships and financial aid, they say. We can tell you what colleges don't want you to know, they say. Work with us, they tpromise, and you won't have to be concerned about college costs.
The letters are not always the same, but one element is. They invite you to come to a hotel function room or other reasonably large venue to learn more about financial aid and scholarships, at no cost. Sounds like a no-brainer, right? If you think so, think again.
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.
After the group presentation, families are invited to meet individually with staff members sometimes called counselors. In the world of sales, these folks are called "closers"...folks trained to close the sale. Their job is to get families to sign a contract and pay a fee of up to $2,000 before leaving. Unfortunately, they succeed all too often.
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 preying on families worried about the cost of college; families who know little or nothing about scholarships and financial aid; families who are often easy targets.
It all starts with a letter from a company with a name that makes it sound like a benign organization whose mission is to assist students and their families.
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 generally start by appealing to fearby talking about the high cost of college.
After a few sentences of doom and gloom about the high cost higher education, the sales message begins. We can help you get more in scholarships and financial aid, they say. We can tell you what colleges don't want you to know, they say. Work with us, they tpromise, and you won't have to be concerned about college costs.
The letters are not always the same, but one element is. They invite you to come to a hotel function room or other reasonably large venue to learn more about financial aid and scholarships, at no cost. Sounds like a no-brainer, right? If you think so, think again.
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.
After the group presentation, families are invited to meet individually with staff members sometimes called counselors. In the world of sales, these folks are called "closers"...folks trained to close the sale. Their job is to get families to sign a contract and pay a fee of up to $2,000 before leaving. Unfortunately, they succeed all too often.
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.