Do colleges with a significant online student population face an increased risk of financial aid fraud?
There is no reason to think online colleges are more at risk, because the FAFSA application is the same for online and in-person students. What are the penalties for federal financial aid fraud? It should be noted that the official FAFSA application for financial aid carries warnings that financial aid fraud is a crime punishable by significant fines. However, multiple other charges, including mail fraud, are pending against everyone indicted in this particular scheme. Conviction for mail fraud, for example, carries penalties of up to 20 years in prison and fines up to $250,000, or both for each count. What is Rio Salado’s current point of view regarding the investigation? President Linda M. Thor released a statement during the June 24, 2009 press conference that read: “As President of Rio Salado College, I want to express how proud I am of the staff of our Financial Aid Office for their stewardship of taxpayers’ funds. I commend them for being alert, vigilant, well-trained and coopera
