As many college students head off into the next semester of school, there is growing concern over the increased risk for identity theft and fraud as it relates to student loans and borrowing money for college. If you are considering financial aid for college, it is important to become familiar with the risks associated with student loans and borrowing money from independent organizations.
With competition for students, many student loan lending institutions have come up with creative ways in which to attract the student body as borrowers. While most financial institutions offer credible programs, there may be questionable marketing tactics in the process of securing borrowers. To ensure your optimal outcome in borrowing money for school, it is important that you first obtain counseling from your school’s financial aid office and only borrow from organizations approved by your school’s financial aid officials.
Solicitations mailed to you, offering student loans and financial assistance for school, are not uncommon. While there are some mail solicitations that are credible and offer great resources for funding your financial need, there are some that are questionable. Because many mail solicitations appear to be actual loan documents, it is not uncommon to feel unsure about what documents are truly financial aid related to those authorized by your school and what is considered to be questionable material.
As the next school year begins, many financial aid offices become overwhelmed with inquiries from students about their financial aid awards and what federal education grants are available. While trying to manage the typical financial aid paperwork and disbursements, students who are caught in the mix of questionable marketing and questionable financial aid may feel as if they are not supported by their financial aid office or financial aid counselors. If you are find that your school is not supportive in answering some key questions you may have, a phone call to the Director of Financial Aid, or even the Dean of the school, may be necessary.
Mail solicitations, phone calls and even door-to-door salesmen are not uncommon in the tactics of education financial aid offers. As a student, you may feel overwhelmed by the variety of offers made available to you. For best results, consult your financial aid office at the school you plan to attend. If you find you are not obtaining the results you need, contact those in authority at the school, such as the Director or Dean as, ultimately, they play a key role in your academic success and by assisting you in limiting your education related debts.