How to Evaluate a Financial Aid Consultant

Use caution when engaging a financial aid consultant.

Instructions

Difficulty: Moderately challenging

Things You’ll Need:

• Calculators
• Fax Machines
• Fax Machine Paper
• Personal Financial Software
• Spreadsheet Softwares

1. Ask about the consultant's qualifications.
2. Keep in mind that the cost for a consultant's services should not exceed $100 to $150.
3. Avoid consultants that won't sign the Free Application for Federal Student Aid (FAFSA) application form. They may be giving faulty advice.
4. Steer clear of consultants who urge you to overestimate your income. Overestimating your income will get you less, not more, aid.
5. Trust your judgment. If something sounds unethical, it probably is - and you could be held responsible for it.
6. Consult your campus financial aid office. They can warn you about consultants you should avoid.

Tips & Warnings

• Good consultants will not urge you to commit fraud.
• The same tips a consultant will give you are available for free on many Web sites.
• The use of a consultant makes financial aid applications subject to intense scrutiny.

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