Financial Aid Scams

Financial Aid Scam

University students are prime targets for financial aid and scholarship scams, which can lead to financial loss and identity theft. Scammers often pose as legitimate organizations, offering fake scholarships or grants in exchange for upfront fees or personal information. It’s crucial to recognize the warning signs and verify the legitimacy of any financial aid offer before taking action. Stay informed and vigilant to safeguard your financial future.
 

Recognize Financial Aid Scams

  • Upfront Fees: Legitimate scholarships and grants never require payment to apply or receive funds. Be suspicious of any request for "processing," "disbursement," or "redemption" fees.
  • Unsolicited Offers: Be cautious of financial aid offers you didn’t apply for, especially those claiming "guaranteed" scholarships or asking for personal financial information.
  • High-Pressure Tactics: Avoid services that use high-pressure tactics to push you into paying for financial aid assistance. Genuine opportunities don’t require immediate decisions or payments.
  • Misuse of Personal Information: Never share your Federal Student Aid ID, Social Security number, or bank details. Scammers can use this information to access your accounts or commit identity theft.
 

How to Stay Safe

  • Do Not Pay: Avoid committing any funds to unverified online services or high-pressure seminars. Legitimate financial aid services do not require upfront payments.
  • Research: Thoroughly research any organization before engaging with them. Look for reviews and seek feedback from other students to ensure they are legitimate and trustworthy.
  • Consult Official Resources: Always seek guidance from our university’s financial aid office or your academic advisor. They can direct you to trustworthy and legitimate sources of financial aid.
  • Report Suspected Scams: If you suspect a financial aid scam, report it immediately to the Federal Trade Commission at ReportFraud.ftc.gov and to your state attorney general. Your report can help protect others from falling victim to fraud.
 

Additional Tips to Safeguarding Your Financial Aid and Personal Information

  • Complete the FAFSA: The Free Application for Federal Student Aid (FAFSA) is the only official, no-cost application for federal financial aid. Ensure you complete it yourself at fafsa.gov.
  • Use Trusted Resources: Rely on university resources and official government websites for accurate information and assistance with financial aid and scholarships.
  • Protect Your Personal Information: Keep your personal details secure and be cautious of any entity requesting sensitive information, such as your Social Security number or bank account details, as a condition for receiving aid.
 

Get Help

To request a service, visit the IT Help Desk and create a ServiceNow Ticket.

 

Get Help

To request a service, create a ServiceNow Ticket and assign the ticket to “IT-ITSO-Help Desk”.

IT Security Office
Administration Building
https://it.sdsu.edu/get-help

Report an Incident

Please contact the Information Security team immediately if you experience or are aware of any of the following: