Under NASFAA, and the National Scholarship Providers Association (NSPA), the most wasteful federal legislation in the history of financial-aid was passed and put into law: The College Scholarship Fraud Prevention Act of 2000. On the surface, the College Scholarship Fraud Prevention Act of 2000 is a law touted by members and advertisers of NASFAA to curb alleged fraud by scholarship administrators, and sponsors. In reality, not a single traditional scholarship sponsor has EVER been prosecuted under the law IN OVER 12 YEARS SINCE ITS PASSAGE!, and very few of the persons/organizations targeted under the College Scholarship Fraud Prevention Act of 2000 has been prosecuted. The only persons prosecuted under the law by the GOP/FTC have been Africans or Hispanics.
In plain and simple terms, the real purpose of The College Scholarship Fraud Prevention Act of 2000 has always been to help members of NASFAA, including student loan companies, and members of the NSPA, undermine the purses and wallets of students by using their networked members of guidance counselors, and college financial-aid officers to steer students and parents toward the financial-aid products and services of NASFAA members. student loans and scholarships sponsored by NASFAA members, and members of NACAC, and NSPA.
Low-cost and FREE scholarship sponsors, such as National Academy of American Scholars, who refuse to pay unnecessary middle-man fees to either NASFAA, or National Scholarship Providers Association (NSPA), are left out of the loop, and therefore guidance counselors do not perform their role in informing students of the numerous scholarships, grants, and financial-aid that is sponsored and made available by organizations that are NOT members of National Scholarship Providers Association (NSPA) or NASFAA.
The new law signed by President Barack Obama effectively and appropriately maintains a firm distance away from and strips banks/members of NASFAA of their role as middlemen in federal student loans and puts the government in charge. No longer do students and parents have to be raped by members of NASFAA or NACAC, or National Scholarship Providers Association (NSPA.
President Obama says the new system will save more than $60 billion over the next 10 years. That money will go toward Pell Grants for students and investments in community colleges and historically black institutions.
Students looking for scholarships, grants, and financial-aid should steer clear of any orgnization(s) linked to NASFAA/NSPA.