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Posted: 6:00 a.m. Wednesday, Dec. 12, 2012
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By Clark Howard
The latest wrinkle in identity theft targets online and for-profit schools.
The Arizona Republic reports there are financial aid fraud teams that assume false identities and go and enroll in expensive colleges. They take out the max in student loans, both federal and private, and then disappear with the money.
Those who have had their identities stolen don't even know this is going on until it blows up in their face. They find out about it too late when they get letters in the mail from collectors. Or worse, when their checking accounts are emptied and their wages garnished by collectors.
The only way to prevent this harm from happening to you? Do a credit freeze. Check my step-by-step guide for help.
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