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Loans and other financial student scams.

posted Nov 18, 2014, 9:04 AM by George Burke

People have been asking about a letter they received stating that an appointment has been set for them to discuss financial aid assistance. These companies are not endorsed by Madill Public Schools

These days, you’re lucky if you can get through college
without taking out a loan. But you can end up in a mess if you
go to the wrong people for it.

The main, legit source, which should always be your starting
point is the Free Application for Federal Student Aid or FAFSA.

Note the “Free” in that title. Be aware that other
organizations use “FAFSA” in their names or services, offering
to help you file your claim — for a fee. Again, it’s
perfectly legal for them to do so, but why pay?

And note that, as in the commercial world, there are plenty of
people prepared to lend you money at different rates
(including “payday loan” types of firms), some of which are
astronomical.

There have even been reports of some less reputable colleges
taking kickbacks from lenders for steering students their way.

This is an area where doing your research definitely pays off.
Start with the FAFSA site, talk to your bank or check out
reputable independent research sites like FindTuition.com
mentioned above or speak to Mandy Clement our HS counselor. 

Another financial area to do your research and be cautious is
the specialist field of student insurance.

When you’re away from home, you may not be protected on the
insurance policies that cover your parent’s (or main) home.

But you’d be well advised to speak to your existing company or
a local insurance agency before being targeted by someone
supposedly selling costly or bogus student insurance on
campus.

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