Treasury Warns Students of Potential Scams
As Michiganders prepare for the upcoming fall semester, the Treasury is asking students and their families to be alert and informed.
When being offered financial assistance, scammers can take advantage of those who are vulnerable.
In a typical student loan scam, a scammer will ask for banking information from a student searching for loans.
The scammer typically claims they will use the information to make a direct deposit into the student’s account in return for upfront fees paid through gift cards.
Instead, the scammer accesses the student’s banking account and withdraws funds.
Students should also be wary when applying for scholarships that require payment or include language that guarantees a scholarship or their money back.
To learn more about financial aid and other ways to afford college, go to michigan.gov/mistudentaid.