""It's crunch time for back-to-school to-do lists — and the criminals know it," Detroit Free Press reports."

..."Scholarship and financial aid scams: Crooks pretend to offer money to help you cover tuition or other expenses through an out-of-the-blue phone call, email or text. The sign of the scam is that you're asked to provide a Social Security number, a bank account number or pay a fee to get this scholarship or financial aid processed. Scammers might ask you to pay the fees by putting money on a gift card and sending it via a digital payment app. Don't do it.

'When students are vulnerable, bad actors may try to take advantage of the situation,' said Allie Bidwell Arcese, senior director of strategic communications for the National Association of Student Financial Aid Administrators.

Loan forgiveness scams often involve trying to get borrowers to pay for services that they can get for free, she said, such as loan consolidation or applying for an income-driven repayment plan.

The word “free” is in the name of the FAFSA form, she noted, and it does not cost anything to apply for financial aid."

NASFAA's "Notable Headlines" section highlights media coverage of financial aid to help members stay up to date with the latest news. Articles included under the notable headlines section are not written by NASFAA, but rather by external sources. Inclusion in Today's News does not imply endorsement of the material or guarantee the accuracy of information presented.

Publication Date: 8/14/2024