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Freebie or
Social Media
Survey Scams
Fake
Universities or
Degree
Programs
(Diploma Mills)
Characteristics or Promises
Issues and Reasons to Avoid
Many legitimate companies will offer
free products or ask students to
complete surveys, but high-risk
offerings will ask for personal
information or account information.
Free products or compensation may not
arrive, and even if they do, they may not
offset the risk of giving up account
information.
Offers may sound very legitimate and
similar to real colleges. They often
promise significant financial aid or
28
degrees in just weeks or months.
A certificate from a school with no
accreditation or a poor reputation is a waste
of time and money. Be certain that any
college or certificate program is formally
accredited; review the credentials of current
faculty, and determine the job placement of
alumni.
Table 10.11
Sources of Good Information and Help
With all the high-cost, predatory, and scam financial advice out there, it is important to know where to turn for
help.
Personal Finance Classes
One option is to look for a personal finance class, which will take the concepts found in this chapter and
expand on them for an entire semester. Your college may have a financial literacy, personal finance, or money
management class available.
Be wary of personal finance or investing classes offered through other sources, however, as many include
hidden sales agendas and aggressive pitches to buy a company’s financial products. Never make an
investment decision, buy a product, or sign a contract at a class, and always seek advice from others on any
opportunity.
Websites and Government Resources
There are a ridiculous number of websites available to the public to help with your personal finances. When
choosing a website for help, lean toward sites run by a legitimate government agencies or nonprofit
organizations.
The first place you should look for help with finances is the official website of related government agencies. If
you have a question about insurance, look to your state’s insurance commissioner website. If you are having
problems with your apartment, contact your city’s housing authority.
Government agencies not only have the authoritative word on any legal matter, but are also generally
unbiased. The downside to government websites is that they can be hard to understand, with legal wording
taken directly from the law. Some government agencies are also prohibited from giving advice to the public,
leaving it up to you to apply the information they provide.
There are also many nonprofit organizations that have been established to assist the public with finances.
Nonprofit organizations may have information that is easier to understand, and they may also be able to offer
personal advice.
28 Creel, Wes. “How Cn I Tell if a Degree is Legitiamte or a Scam.” Abound/Finish College.
Access for free at openstax.org
10.6 • Defending against Attack: Securing Your Identity and Accounts
Official Government Websites
•
•
•
•
•
Personal Finance: Consumer Financial Protection Bureau, consumerfinance.gov
Taxes: Internal Revenue Service, irs.gov
Retirement: Social Security Administration, ssa.gov
Investing: Securities Exchange Commission, sec.gov
Investing: North American Securities Administrators Association, nasaa.org (state and provincial
investment regulators)
Nonprofit Organization Websites
•
•
•
•
National Endowment for Financial Education, nefe.org
National Foundation for Credit Counseling, nfcc.org
Consumer Reports, consumerreports.org (national consumer advocacy organization)
Purposeful Finance, purposefulfinance.org (a nonprofit organization run by this chapter’s author)
Your College’s Financial Aid Office
The financial aid or student aid office of your college may also be a good place to look for financial help,
especially surrounding student loans. It is important to realize, however, that a conflict of interest exists