Department of Education cites dramatic increase in student aid fraud
Student aid fraud increased 82 percent between 2009 and 2012, according to a new report from the U.S. Department of Education’s Office of Inspector General.
The government estimates that it may have been defrauded by more than 85,000 federal aid recipients in the three years identified. Illegally received student aid is believed to have surpased $187 million.
CBS Money reports that the increase in online education has made it easier for fake students to borrow money from the government.
“One person can create dozens of identities, and confirming that any one individual is a legitimate student can be difficult,” CBS’ Lynn O’Shaughnessy wrote on Thursday.
The Inspector General’s Office was first alerted to the situation in 2011, and subsequently recommended that the Education Department update its systems hoping to detect fraud and criminal activity.
- The most expensive homes in Utah in 2014
- How actress Blake Lively's family saves money...
- How are holiday shoppers spending their money...
- 5 easy ways to make your money work for you
- 4 unexpected health risks of smartphone use
- Why you need to stop buying your kids so many...
- Renovation Solutions: Four examples of how to...
- 5 reasons not planning could help you in the...
- Robots will replace 50% of today's... 13
- 15 organic fruits and veggies that... 7
- Pope demands just distribution of... 5
- What's next for dead malls? 5
- Gift Guide: 3 ways to watch streaming... 3
- Ford's new F-150 to get 26 mpg, tops... 3
- Minivans do poorly in new crash tests 2
- How faith and family helped one... 2