2008 Woodie Awards
Officials question group's credibility
By: Sarah Schuch
Issue date: 2/18/08 Section: News
Students and experts are questioning a group that claims to offer additional financial aid in exchange for a processing fee.
At least 10 students went to the Student Service Court within the past month, questioning a letter from College Financial Advisory, said Diane Fleming, associate director of scholarships and financial aid.
Detroit freshman Arrionna Dryden received a letter from the group in January.
According to the letter, students who did not qualify for federal student aid or need additional financial aid should submit applications to other existing financial aid programs. At the end of the letter, asks for the students also to send a $48 processing fee.
"Something was telling me not to send it in," Dryden said. "They would have all my information."
Dryden had never heard of the company before, so she brought the letter to the Student Service Court, where university officials informed her it probably was a scam.
Fleming said any company asking for students to send in money is not legitimate.
"My advice for students who get anything that asks them to send money to help them find scholarships is don't (send the money)," she said.
Faye A. Ara, executive vice president of operations at College Financial Advisory, said the company is a legitimate and resourceful organization dedicated to assisting students.
Ara said some institutions and students make inaccurate offensive allegations against College Financial Advisory because they do not know what it is.
"We would like to know where they are obtaining this malicious statement," she said.
The group provides student guidebooks that offer such things as strategies to win merit-based scholarships, tips for filling out the Free Application for Federal Student Aid and information warning students against scams, Ara said.
Ara said College Financial Advisory's application fee is used for its operating costs.
The organization benefits students because it helps them become more educated with the financial aid process and programs, and can increase students' chances to obtain financial aid funds, she said.
At least 10 students went to the Student Service Court within the past month, questioning a letter from College Financial Advisory, said Diane Fleming, associate director of scholarships and financial aid.
Detroit freshman Arrionna Dryden received a letter from the group in January.
According to the letter, students who did not qualify for federal student aid or need additional financial aid should submit applications to other existing financial aid programs. At the end of the letter, asks for the students also to send a $48 processing fee.
"Something was telling me not to send it in," Dryden said. "They would have all my information."
Dryden had never heard of the company before, so she brought the letter to the Student Service Court, where university officials informed her it probably was a scam.
Fleming said any company asking for students to send in money is not legitimate.
"My advice for students who get anything that asks them to send money to help them find scholarships is don't (send the money)," she said.
Faye A. Ara, executive vice president of operations at College Financial Advisory, said the company is a legitimate and resourceful organization dedicated to assisting students.
Ara said some institutions and students make inaccurate offensive allegations against College Financial Advisory because they do not know what it is.
"We would like to know where they are obtaining this malicious statement," she said.
The group provides student guidebooks that offer such things as strategies to win merit-based scholarships, tips for filling out the Free Application for Federal Student Aid and information warning students against scams, Ara said.
Ara said College Financial Advisory's application fee is used for its operating costs.
The organization benefits students because it helps them become more educated with the financial aid process and programs, and can increase students' chances to obtain financial aid funds, she said.
Viewing Comments 1 - 1 of 1
ben
posted 4/22/08 @ 12:37 PM EST
This company does not even have a website. They are scammers.
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