GAO fraud video
Go Deeper.
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The feds have put up the video on their investigation into for-profit colleges, along with a transcript.
A quick sample:
Example 4: Financial Aid Counselors Assisted Students in Committing
Fraud
Clip 1: Financial Aid Counselor tells student with $250,000 in the bank
that he should not report that money on his FAFSA, counter to Department
of Education requirements (Texas)
[ Financial Aid Representative: ] Is there a reason why you put this
amount in for cash?
[ Student: ] I got an inheritance last year. My aunt passed away. And
that's why I thought, well maybe I can go to school now. Does it--does
it affect anything?
[ Financial Aid Representative: ] Yeah. Frankly, in my opinion, they
don't need to know how much cash you have. That's why you don't have to
return anything.
[ Student: ] Oh, I didn't--I didn't know.
[ Financial Aid Representative: ] Yeah, just an FYI, they don't need to
know your cash.
[ Student: ] I didn't know.
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