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 financial aid they will receive.
One financial aid organization believes these scammers defraud families out of more than $100 million dollars a year.
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.
First, families receive a letter from an organization with a name designed to sound like it was founded to help the families of college-bound students.
The letter often looks like it comes from a top college or university. Thats not an accident. The font, the grade of paper, and the logo are chosen by the scammers to give the letter an "academic look. Its junk mail alright, and its far more malicious than most, but thats not what it looks like. As a result, instead of throwing the letter away, many families open it. Thats mistake number one.
The letters almost always begin by frightening families 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.
What all the letters have in common is that they invite families to a free "seminar, often at a local hotel. Because the letter offers the hope of extra financial aid, and because the evening is free, many families accept the invitation. Thats mistake number two.
The gathering, whatever it is called, is a well rehearsed sales pitch. The gist...you need money, we can help you get it. And, nowhere do you get the one piece of information you need most...everything of value these people can offer you is available elsewhere, for free.
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. - 16955
One financial aid organization believes these scammers defraud families out of more than $100 million dollars a year.
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.
First, families receive a letter from an organization with a name designed to sound like it was founded to help the families of college-bound students.
The letter often looks like it comes from a top college or university. Thats not an accident. The font, the grade of paper, and the logo are chosen by the scammers to give the letter an "academic look. Its junk mail alright, and its far more malicious than most, but thats not what it looks like. As a result, instead of throwing the letter away, many families open it. Thats mistake number one.
The letters almost always begin by frightening families 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.
What all the letters have in common is that they invite families to a free "seminar, often at a local hotel. Because the letter offers the hope of extra financial aid, and because the evening is free, many families accept the invitation. Thats mistake number two.
The gathering, whatever it is called, is a well rehearsed sales pitch. The gist...you need money, we can help you get it. And, nowhere do you get the one piece of information you need most...everything of value these people can offer you is available elsewhere, for free.
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. - 16955
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.
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