Alpha Consumer

Student Loan Fraud

Posted: June 27, 2008

My colleague Kim Clark reported in our On Education blog that the Federal Trade Commission has some new tips on avoiding loan fraud:

Just in time for the college loan shopping season, which starts July 1, the Federal Trade Commission has posted a guide to avoid rip-offs.

One of the most important tips is to be very skeptical of any solicitation that looks like it is coming from the federal government. The U.S. Department of Education "does not send advertisements or mailers, or otherwise solicit consumers to borrow money. If you receive a student loan solicitation, it is not from ED," the FTC warns. U.S. News documented some misleading loan ads here and, in partnership with Simple Tuition, offers a tool to help you compare student loan prices.

More Alpha Consumer posts

Student loan that does not make sense

I recieved a student loan repayment bill that does not make sense. I want to make sure that I am not going to get ripp off. I am still in school and I the amount is not comparable with the any of the amounts of previouse loans. How can I make sure that this bill is legitimate and ifit is, I want to be able to fully undertand what and why I am been billed for.

Francisco H. Bonilla of TX @ Jun 25, 2009 23:15:10 PM

Add Your Thoughts Title Comment 3000 characters left

About You Name Email State