Don’t Let Scammers
Sell You A Fake Future
As education costs rise and student debt remains a challenge, scammers are cashing in on desperation. Recent analysis suggests diploma mills globally now generate about $7 billion per year in revenue, a massive increase likely driven by the Internet and international demand, according to Parchment.
Here’s how these schemes work: Fraudsters create fake schools or programs promising quick degrees for a fee—often without coursework or accreditation. Others impersonate legitimate loan forgiveness programs, asking for upfront payments or personal information. Victims end up with worthless credentials and financial losses.
Red Flags to Watch For
- Offers for “instant” degrees or guaranteed diplomas.
- Requests for payment to access loan forgiveness.
- No accreditation or vague school details.
Protect Yourself
- Verify schools through the U.S. Department of Education’s accreditation database.
- Never pay upfront for loan forgiveness—legitimate programs are free.
- Guard your personal and financial information.
Get Help & Report Fraud
• DC Department of Insurance, Securities and Banking (DISB): 202.727.8000 or [email protected].
• FTC: [email protected].
• Verify schools: U.S. Department of Education Database of Accredited Postsecondary Institutions and Programs.
Check out more consumer alerts: DISB.dc.gov/consumeralerts.