Student Loan Fraud

Federal student aid provides financial assistance so that higher education can be more readily available to students. Some fraudsters seek to exploit federal aid programs by fraudulently taking out loans using other’s names. (Fraudsters seeking to take advantage of Federal student loan programs receive...

Higher education degrees are expensive. Thankfully, federal student loans make the dream possible for many, but to date, there are more than 44 million student loan borrowers with about $1.3 trillion in debt. Some of that debt is due to criminals who have fraudulently...

Most people like to get things for free, but an article posted on MassLive.com tells about a former Massachusetts university employee who takes the concept of free to a new, lower level. This particular young adult was not entirely happy with just receiving a...

While the Department of Education distributes around $150 billion in student financial aid on an annual basis, tens of millions of dollars go to fraudsters who apply for student aid using stolen identities. (To say that is a lot of money is an understatement.) A Danville,...

Have you ever dreamed of being inside of a cash machine with the opportunity to grab at hundreds or even thousands of dollars swirling around in a money tornado? An article posted on WJLA.com tells about how a husband and wife used student loans...

If you want to lose the respect of your peers, steal their personal information and use it to apply for student loans you don't deserve. That's what today's fraudster did to fund her doctorate degree. A 64-year-old retired high school teacher stole and used the...

Distance learning is big business, and many accredited universities and learning institutions offer a variety of degrees and certificate programs online. The benefits of online programs are numerous, including convenience, flexibility, cost and choice. Distance learning students do not have to be physically present...

The phrase, ''beauty is only skin deep,'' suggests that a person's character is more important than how they actually look. A woman who ran a cosmetology school in Fort Wayne, Indiana used her beauty school to hide an ugly $3 million student loan scam. The...

Some fraudsters never learn. They frequently commit the same crime over and over again until one day, they make a mistake. A Georgia woman almost carried out a successful student loan fraud scheme worth $500,000, until she mistakenly signed her own name instead of...

Listen to this Story For many, student loans mean the difference between going to college and not going. Not so for this ''Fraud of the Day'' example, found in a story in the St. Louis Post-Dispatch The article tells of...