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Student Loan Fraud Lawyers

The Higher Education Act establishes several programs for providing federal student aid. These include loans and grants. Students are legible for financial aid after completing a Free Application For Federal Student Aid (FAFSA). The State of New York also provides tuition aid through the Tuition Assistance Program (TAP). There are many cases where students submit fraudulent student aid applications or are involved in misleading behavior to improperly acquire money from student loan initiatives. There are also occasions where institutions commit fraud against students. In such cases, the perpetrators may be charged with student loan fraud.

Varieties of Student Loans Fraud

The types of school aid fraud that are illegal include:

Misrepresenting one’s income on financial aid application forms
Using another person’s identity to secure student aid
Applying for loans that apply to non-existent students, or students who either do not qualify, or do not wish to go to school, and taking the funds when the loan exceeds the tuition expenses.
Falsifying or manipulating test scores to qualify for tuition aid

A person may also be guilty of student loans scam for issuing a false statement that help will be given and failing to provide the benefits. Examples of these kinds of student aid fraud include:

Advance fee scams: Soliciting money from students with the promise of securing loans for them at a low interest rate
Student loan forgiveness fraud: Soliciting money from students with the promise that their loans will be forgiven
Student loan debt elimination fraud: Soliciting money from students with the promise that their loans will be discharged

How to Spot Student Loan Fraud

Upfront Payment

According to the Federal Trade Commission, requesting an advance fee for student loans is an illegal practice. Legitimate student aid businesses should not charge any fees until the settlement or service succeeds and the borrower has deposited payment towards their negotiated payment schedule.

Consolidation Application Fee

When a student defaults on a loan or is going through financial troubles, they tend to be desperate for relief. Student loan relief scams offer the promise of consolidating loans or lowering payments. These businesses charge you to fill out paperwork for a repayment plan based on your income or make an application for federal consolidation. However, you can easily perform all these procedures on your own for no fee.

Discharge of Loans In Exchange For Information

One of the compelling scams to look out for is the promise to eliminate your student loan debt entirely. In many cases, these businesses require an advance fee or are after private information like your FSA ID or Social Security number. The only way that a student loan may be eliminated is in the event of permanent disability or death. There are also forgiveness programs that offer loan forgiveness like the Public Service Loan Forgiveness. You can easily apply for these programs on your own without having to pay any fee.

What To Do If You are a Victim of Student Loan Fraud

The first step is to call the major credit bureaus- TransUnion, Experian, and Equifax- to freeze your credit and report the fraud. You should also report the institution to the Consumer Financial Protection Bureau and the Federal Student Aid Feedback System. While some scammers are mainly interested in the money, others are after sensitive personal information such as your FSA ID and social security number and this makes you a target for identity theft. If you provided your FSA ID, it is advisable to talk to the Office of the Inspector General. If the scam involves paying a fee, you should contact your credit card company or bank to stop the transaction before the payment is processed.

Penalties of Student Loan Fraud

Defrauding the government through federal student aid leads to charges for false claims , making misleading or false statements, conspiracy to defraud, and wire or mail fraud. A single false claim is subject to a penalty of five years imprisonment. Multiple false claims are charged separately. Wire or mail fraud is subject to 20 years imprisonment.

Bank fraud and identity theft are felony offenses that one can be charged with if they used another person’s information to secure loans or if they have engaged in any scheme intended to improperly acquire funds from a private institution.

Persons who defraud students do not only face larceny, state and federal fraud charges, they are also liable to be charged with internet fraud if they use the internet to advance their scam.


Charle Butler
Charle Butler
2021-03-12
Verified
I was hesitant to hire the Spodek Law Group. I read reviews and knew they have a great reputation. However, I thought I would spend money and not see or speak to my attorney. From the beginning to end of my case Todd and the entire staff were available and willing to help. We worked towards and end result that was way above my expectation and Todd delivered. I am forever grateful for patience and long days and night spent working on my case. Thanks Todd and the entire team!
Mesonista parsons
Mesonista parsons
2021-03-05
Verified
My attorney at Spodek was Abigail. She was very knowledgeable and helpful with all my questions and concerns, as well as responsive. Her fees are affordable and Abigail took the time to make sure I understood everything relating to my case. I highly recommend Abigail and will request her services in the future.
debabrata chakraborty
debabrata chakraborty
2021-03-03
Verified
Todd A Spodek is the experienced and best criminal lawyer at USA. He is very professional and always respond on time. Alex also very cooperative and always help me. They took care me and my problem like family member. I am 100% satisfied for their professional service. My result was unexpected and amazing. They dismissed my case. I am really grateful to them. I will recommend you to go there if you want to solve your problem. I wish all the best for them.
Asata Hendricks
Asata Hendricks
2021-03-02
Verified
Truly appreciate the work the guys did!. Exceptional team & I know they care about each and everyone of their clients. I am super thankful to be referred to Spodek Law Group and I am grateful Todd & Alex were able to work diligently to achieve an outcome I am pleased with. Despite COVID they stayed on top of things and kept me informed every step of the way. Very thankful.
Mike Moroff
Mike Moroff
2021-02-26
Verified
I'm very satisfied with the services rendered by Todd, Alex and Mary Lou. I whole heartedly recommend Spodek Law Group . I've worked with and have retained other attorneys in the past with Todd's firm being the cream of the crop for many reasons. A very serious legal matter was resolved after a year's hard work and effort. Todd expertly guided me through the process and was able to navigate and make the good journey bearable as well as successful. Mary Lou initially provided excellent assistance before referring my case to Todd. Alex's support was effective and timely. The customer portal (MyCase) is an invaluable communication tool that also kept track of my case. Various aspects of my case were explained and there were several options provided but I made the final decision of how the case would be handled. The legal fee was reasonable considering the effort and amount of work plus it was a flat fee regardless of the length of time required to conclude my case. Todd made himself available to me and we had many scheduled meetings to go over the progress and to discuss the next steps. I felt more confident after many discussions with him. You will not go wrong choosing Spodek Law Group for legal matters.
Josh Katz
Josh Katz
2021-02-24
Verified
Being that it was the first time that I was in need of an attorney, I was afraid and hesitant and knew I needed the absolute best. It is beyond understood why Spodek Law Group has a reputation of being the top, if not the best law firm in New York. Alex and Abigail were there every step of the way even at the most unconvenient hours. I could not have asked for more. They are extremely good at what they do and they delivered much much more than just winning my case. A big thank you to Alex and Abigail for all the guidance and counseling and their upmost loyal support that extended far more than just legally. If you need the absolute best than don't hesitate to hire Spodek Law Firm.
L.C.
L.C.
2021-02-24
Verified
I cannot tell you how thankful I am to Todd and Alex for their hard work and dedication to my case. I had never been in any trouble before but I had an unfortunate event occur and in the midst of COVID-19 at that therefore I knew I needed a team that was dedicated to my success. Today- my case has been finalized and I’m walking away with no record and can continue life as a mother and a Grad student worry free. I cannot express enough gratitude for their assistance.
AnnMarie Soliman
AnnMarie Soliman
2021-02-23
Verified
I received a summons and called Spodek law group for a free consultation. Alex took my call and was very quick and responsive. He was available anytime through multiple platforms and very reassuring when needed. They are extremely organized and thorough. They got my case dismissed! I’m very grateful. Thank you Alex and Todd!

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