Volume 3, No. 41 October 24, 2003
Avoid financial aid scams By Trey Reckling Many college students have read it all before: “$6.6 billion in scholarships went unclaimed last year,” “You are guaranteed a minimum of $1,000 in awards,” “We have a 96 percent success rate.” Students are sent such unsolicited claims by for-profit companies through United States mail and e-mail spam messages. These companies prey upon students who are in dire financial need and those who have not fully researched the financial aid process. “For just a small fee, we will send you a complete list of scholarships and awards.” The truth is, the most comprehensive award databases are available free of charge. According to www.FastWeb.com there are ways to identify the legitimate offers from the scams. Typically scam offers will state that someone has won an award they have not applied for, do not provide good contact information, guarantee that an award will be won, require the applicant to provide personal information such as a credit card or checking account number to “verify” an award or scholarship and provide a “money back guarantee.” Cindy Bradley, director of the Savannah College of Art and Design financial aid department, reminds students that a list of recommended Web sites and resources for scholarships and aid is printed on page 17 of SCAD’s 2003-04 Financial Aid Guide. She emphasizes that, while some companies may solicit student business with offers to do scholarship research for them for a fee, it is important for students to do their own research. “Scholarships come from a variety of places; everything from local church groups to international multimillion dollar corporations,” she said. “Each scholarship is intended to target a different type of student and most have multiple criteria to be met. There is really no way to do the research for another person without knowing everything about them.” Bradley also reminds students that during the next three months the federal government is mailing out prior applicants’ personal identification numbers. This federal PIN will allow students to go to www.fafsa.ed.gov, log in and access their personal renewal FAFSA for 2004/2005, after Jan. 1, 2004. Students are encouraged to renew their FAFSA after January 1, 2004. Don’t get caught in a scam. Be wary of offers that promise easy answers for a fee. Seek the assistance of SCAD’s financial aid counselors and resources when researching aid options. Doing so can help save money and prevent unnecessary headaches. The annual financial aid guide is available on the SCAD Web site at www.scad.edu under “Financial Services.” The guide provides information about federal/state aid, private loans, school scholarships and more. Reckling is the college’s ombudsman.
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