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Warning issued from The University of Wisconsin about Financial Aid Scam

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The University of Wisconsin has issued a warning to its parents about a scam involving financial aid applications. The "College Financial Advisory" sent mailings to all UW parents asking for a $49 fee to apply for financial aid. However – UW does not require any forms besides the Free Application for Federal Student Aid (FAFSA) – which is not fee based.

Here are a few "signs of a scam" provided by the Federal Trade Commission:

  • The scholarship is guaranteed or your money back.
  • "You can't get this information anywhere else."
  • "I just need your credit card or bank account number to hold this scholarship."
  • "We'll do all the work."
  • "The scholarship will cost some money."
  • "You've been selected" by a "national foundation" to receive a scholarship - or "You're a finalist" in a contest you never entered

For more information – please see the Federal Trade Commission's site: www.ftc.gov/bcp/menus/consumer/education/scholarships.shtm

To fill out the FAFSA, visit - www.fafsa.ed.gov

To reach the UW-Madison statement on the recent scam – go to www.finaid.wisc.edu