What is the College Financial Advisory?

artsavedmylife · 03-28-2008, 01:10 PM

I'm a freshman in college... and my parents got a letter in the mail from the College Financial Advisory. What is it? Is it a scam to get money? They ask me to enclose a processing fee of $48.

thricedotted · 03-28-2008, 01:23 PM

Google turned this up: http://www.collegiatetimes.com/stori..._tech_students

artsavedmylife · 03-28-2008, 07:49 PM

Thanks a lot. That's what I guessed, but I wanted to make sure.

franglish · 03-29-2008, 07:13 AM

We received this too! It really made me angry. It had my D's school's name in a little form at the bottom of it, it definitely looked official, and I could see how folks could get duped by this. The only reason I knew it was junk is that it had nothing from the school itself (logo, address, etc.) on it. And, the school's financial aid policies recently changed to deliberately eliminate the loans they were talking about on the letter. I think people should complain to the BBB or something. I would, but I think my DH threw the letter away.

kelsmom · 03-29-2008, 11:46 PM

We got this letter today, and I am really not happy. How the heck do they know what school my daughter attends?! That's the part that really upsets me. They had to get that info from somewhere ... and considering that the government is getting our ss#'s when we file the FAFSA or take out Stafford loans ... it really peeves me that some scam company has access to this info.

atg4ever · 03-30-2008, 07:53 AM

Please be aware of these scams. When dealing with loans, usually schools have their preferred providers. Not that they may have the best rates available (always shop around), but they have experience working with the school and make the process a bit easier. Recommend that you first speak with your banks and see if they have an educational dept. If not, there are many reputable companies out there.

franglish · 03-30-2008, 08:00 AM

Follow up to my post #4: I looked on several schools' financial aid sites and saw a warning to folks about this particular company. So, I emailed my D's school's fin aid office yesterday morning (Saturday) and told them about this. I was very pleasantly surprised to get a return email within a half hour that said they were very grateful for my "heads up," and that the school's legal services department was on it. Whatever they can do, I don't know. But this school was going to put the same warning on their page about this company. Apparently they had the warning last year.

I was worried, too, about the letter having her name and school on it. But we thought about other things that we have gotten. For instance, there is a company that sells bedding supplies to many schools, and we have gotten that info. Also, we have gotten a letter from a national company that sells care packages at various times, and that, too, was customized. Maybe companies like this buy lists, as other mailing houses do. I really hope that our numbers are protected, and I guess we have to trust that they are.

BTW, the other scam to watch out for is FAFSA.com. I fell for that one last year! Luckily, I was able to reverse the order, but these companies are very sly and weasly.

tj9854 · 03-30-2008, 01:30 PM

Thanks for the information. My parents don't really speak English and they were like I need to fill this out for school. I'm glad that I took the time to look this up. It makes me really angry that companies are preying on people with official looking forms.

Silly guy · 06-24-2008, 03:59 PM

that sucks i gave them money already, i'm new to college so i didn't know. I was wondering why i did not get notice within 10 days and was planning to call them.

i feel like cracking some heads now

eab · 01-23-2009, 03:39 PM

It is a new year. The mailing has started again.

jtkt07 · 04-02-2009, 02:06 PM

I cant believe that people could be that cruel and completely try to take advantage of us like that.......................

I wanna beat the S*** outta them!!!!!

adachi · 05-30-2009, 09:44 PM

me too !!

grrr...

bcarvings · 10-13-2009, 05:32 PM

I just got a letter from this "company" and thought it was suspicious so I check on here, thank God.

Theres a number listed, tommorow I'm going to call them just so I can yell at them - If they are an illegitimate company, how are they still able to send these mailings out? I mean the phone number to call them even works, the government should be able to do something, I think it would cost must less to close this company then they are stealing.

Plus I'd like to see these guys in jail, (frankly I would prefer to have them beaten until they are crippled but unfortunatley thats illegal).

bikila · 10-22-2009, 08:30 PM

thanks all you guys for your information. i received the same letter which says it was from college financial advisory and asking me to send them a check of $59 for processing fee.
i am confused why peoples do that to each other.

hakeim · 11-04-2009, 03:31 PM

is it possible for me to sue this scam company??