Associated Press data reporter Sharon Lurye explains how scammers are using stolen identities to steal financial aid and student loans from colleges and prospective students.
Scammers are stealing financial aid funds at an increasing scale, thanks to artificial intelligence tools. They're signing up for college courses, using AI to pretend to be students, and running off with the financial aid.
In California alone, the Associated Press found more than 200,000 so-called "ghost students." Sometimes that means a real person — whose identity is stolen — is saddled with debt. Other times, money is taken from the Pell Grant program, which is supposed to be for students with the most financial need.
The Education Department says this fraud is imperiling the financial aid system itself.
Marketplace’s Nova Safo spoke with AP data reporter Sharon Lurye, who has been covering the story.
“How scammers are using AI to steal college financial aid” - from the Associated Press
“Education Department rolls out heightened screening for financial aid applications” - from Higher Ed Dive
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