Families Urged to Beware of Financial Aid Scams

Illinois families are sometimes contacted by companies offering fee-based assistance with the financial aid and/or scholarship application process.

ISAC continues to encourage students and families to be skeptical of unsolicited offers for fee-based scholarship or financial aid searches. In many cases, financial aid information and applications can be obtained at no charge. While some legitimate companies do charge a fee to perform a financial aid search, individuals should only pay money and/or provide personal information if they are confident that the entity providing the service is reputable. Students and families should never provide any financial or personal information to an unknown, unsolicited person or company.

Students and their families who are seeking ways to finance a college education should beware of scams. Learn more about financial aid scams at The Federal Trade Commission's Scholarship Scam Web Site. Another source of information is a recent report entitled The High Cost of Student Aid Scams, which is available at the Web site of the California Public Interest Research Group (CALPIRG).