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Complaint of the Day

National Student Financial Aid

By Mark Huffman
ConsumerAffairs.com

February 22, 2007
Since our Why Does College Cost So Much report, we've received a series of complaints about a company called Integrated Capital, doing business as National Student Financial Aid, that supposedly helps parents find college aid for their children.

Jose, of Santa Ana, California, said he paid $1,250 to attend the company's seminar, but received no helpful tools or information as promised.

"I received some materials but obviously nothing that cost $1,250 and no financial aid whatsoever," he said. "I paid $1,250 that I could use today to pay for my son's college tuition. If there's any possible way to recover this money, I would like to know please."

As far as we know, NSFA is no longer conducting these seminars, after signing a consent decree with the Federal Trade Commission, then being found in contempt of court in 2005 for violating it.

Under the order, consumers who paid money to NSFA between August 6, 2003 and July 17, 2004 are eligible for a refund. Unfortunately, we have complaints going back to 1999, and many of these consumers apparently have no easy recourse.

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