Some companies find innovative ways to take your money. Know what to look for when trying to tell friend from foe.

NOTE: DO NOT GO TO WWW.FAFSA.COM. THIS IS A WEBSITE THAT ADVERTISES HELP IN FILLING OUT THE FAFSA. YOU WILL BE CHARGED.

Financial Aid Fees: Worth the Price?

Paying a fee to help you apply for financial aid may be an unnecessary expense. Here's why:

Claim #1: "We'll help you complete complicated forms."
A. Information about the FAFSA and other forms is available free of charge from your guidance counselor, your library and
the Department of Education's: toll-free help line: 800-4-FED-AID (800-433-3243).
B. You still have to fill out the same basic information for a fee-based service that you would for the FAFSA; how
else would they get your information?

Claim #2: "We'll find different ways to report your assets and obtain more aid."
While these services can be legitimate, remember that colleges can request additional documentation about your finances. Also, not reporting tax information accurately is against the law (punishable up to a $20,000 fine, imprisonment or both).

Note: While financial aid services may provide useful information, know your options before deciding to use these services. Financial aid should not cost you, especially when free resources are available online and through St. Joseph's Academy's Guidance Department.

A New Kind of Scam: Financial Aid Seminars

A seminar may or may not be legitimate. What are the warning signs?

1. While the presentation might be free, the services are not. You may be pressured to give them a check, checking
account number or a credit card to sign up for the service.

2. You are told that the program can adjust your income an/or assets to make it seem like you earn less money,
thereby qualifying for more aid. Such practices are often illegal.

3. You are asked for a credit card number to "hold" the scholarships for you.

4. The service tells you that it can only answer specific questions after you have paid the fee.

5. The service tells you anything that conflicts with what a financial aid officer tells you.

Reminder: A company with an official-sounding name that includes words like "national," "education" or "federal" in its title does not necessarily mean it is legitimate. Check with your counselor if you question a company's legitimacy.

If a seminar is held at a local school or community center, that doesn't mean it is legitimate. Anyone can rent space and give a presentation. Check with a St. Joseph's Academy counselor before you attend if you have any questions.

If you suspect financial aid fraud:

1. Save all forms you receive from the suspect company. Keep copies of written details about the offer and any correspondence, e-mails or other paperwork. Make sure all materials are dated.

2. Take notes during any seminar or phone conversations. Record the date, time, phone number and the person's name with whom you spoke. Also, include a detailed account of your conversation.

3. Report the suspected scammer to any of the following organizations:

National Fraud Information Center (NFIC): 800-876-7060; www.fraud.org

Federal Trade Commission (FTC): www.ftc.gov

State Attorney General's Office: www.ag.state.la.us. Ask about filing a complaint with the Bureau of Consumer Protection.

Better Business Bureau (BBB): (703) 276-0100; www.bbb.org

United States Postal Inspection Service (USPIS): 800-654-8896