Quoted In: Five College Money Scams (Smart Money)

"Financial aid scams come in two forms," Smart Money reports. "First, you’ve got federal and private loans scams. Other rip-offs relate to scholarships. So how do you recognize a scam? Certainly, the old adage that any offer that sounds too good to be true probably is applies here. Also, watch out for letters with typos or companies that don’t provide a phone number or other contact information, says Justin Draeger, a spokesman for the National Association of Student Financial Aid Administrators (NASFAA). If parents do receive a loan solicitation that sounds too good to pass up, call the university’s financial aid office to make sure it’s legitimate says, NASFAA’s Draeger."

You can read the complete September 3, 2008 Smart Money article on-line.