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If you
think you're getting ripped off in the aid department,
find out what you can do to stop it!
Say Goodbye to Financial Aid Fraud
By Rochelle DelGaizo Billera
July 2001
The CollegeBound Network NewsClick --
How much money can you get for college funding?
"That's the best kept secret in America,"
says Coy R. Howe, author of College Funding
Made E-Z (Made E-Z Products, Inc., 2000) and
owner of College Funding Solutions Inc., Port
Angeles, WA.
When it comes time to select a college, says
Howe, many students panic, choosing a college
based on money rather than preference. If they
did their homework ahead of time, however, they
can be let in on the 'secret,' says Howe, and
figure out how to afford their schools of choice.
"Students pretty much take the [financial
award] figures they're given, because they don't
know any better," says Howe. "In fact, 90
percent of offers are accepted the way they are."
That's like accepting a car at its sticker price
as opposed to negotiating for a better deal, says
Howe. And, this startling fact can mean the difference
between attending your dream school or one that's
merely 'financially accessible.'
Get this... 10 percent of all offers that are
challenged, Howe adds, 90 percent are reevaluated
to the student's advantage. Ask and ye shall
receive more money!
"A seemingly expensive private school may
actually cost less [to attend] than a state-funded
school," reveals Howe. You just have to know
where to look, and what to ask for. In this instance,
state-funded schools give away government money,
while private schools award both state and
private funds, along with the school's own endowments.
Knowledge is power, urges Howe. Simply stated:
"The more you know, the more you get."
In order to get and stay in-the-know, advises
Howe, you must act. Don't wait until the
last minute to start planning. Your sophomore
year of high school is the ideal time... waiting
beyond that can cause panic and rash decisions
(as I'm sure all you juniors and seniors reading
along can attest to!).
Whatever year you are, urges Howe, be cautious
of unscrupulous aid companies that prey on your
aid confusion, uncertainty, and desperation. Fraud
does exist and everyone is susceptible,
he argues. In fact, the Federal Trade Commission
(FTC) estimates that a minimum of 10,000 questionable
financial aid search services defraud over 300,000
high school students out of millions of dollars
each year!
Don't be a sitting duck just waiting to be hunted!
Arm yourself with enough academic ammunition to
make an informed school choice, enriching your
mind and keeping money in your pocket.
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