Which red flags made a student suspicious of a bogus financial aid service?

When a company called College Financial Advisory offered unsolicited help in finding scholarships to a University of Wisconsin freshman, the student wondered if it was too good to be true.

The fine print confirmed it: An out-of-the-ordinary processing fee of $59 was part of the deal.

That was just the first sign that the company might not be on the up-and-up.

The second? The listed address went to a postal drop box in San Diego – not to a processing center as the letter claimed.

The student’s financial aid department agreed the letter seemed fishy, and recommended other measures fund-seekers can take to avoid getting scammed:

• Watch for any financial aid applications that require a fee, and
• Be wary of any claims of “guaranteed” financial aid.

Anything you’d like to add to the list of what students should watch out for? Let us know in the comments section below.

Tags: Financial aid scam, University of Wisconsin