Student-Aid Fraud Ring Members Rise Sharply in U.S. Estimate
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The number of applicants for U.S. student aid who were members of fraud rings, using bogus identities and credentials to apply for government grants and loans for college, has grown 82 percent since 2009, according to an Education Department analysis.
The government lost about $187 million to such fraudulent applicants from 2009 through 2012, the agency’s Office of the Inspector General said today in a report.