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When using the FastWeb website, it is recommended that you avoid the politics, the advice columns, and any commentary related to Kantrowitz because he does not disclose the true facts and reasoning behind his one-sided statements. For example, both NASFAA/Kantrowitz were very vigilant, meticulous in sponsoring U.S. Senate Bill S1455, which is also referred to as the College Scholarship Fraud Prevention Act of 2000. This Act was designed and created to prosecute the purported "massive" scholarship fraud that Kantrowitz publicly and repeatedly claimed was occuring, but he offered no proof to support.
Instead of combatting the alleged scholarship fraud that Kantrowitz claimed, The College Scholarship Fraud Prevention Act of 2000 was a perfect and spotless piece of federal legislation that helped lay the foundation for the massive student loan fraud, massive fraud by Sallie Mae, fraud U.S. Dept. of Education employees connected to NASFAA, and other NASFAA members.
The College Scholarship Fraud Prevention Act of 2000 is proof what can happen when fools are led by fools, and when government agencies partner with for-profit entities ran by alleged "Experts/Media Critics." Fool Kantrowitz, the self-proclaimed Financial-Aid Expert, led the FTC, the U.S.P.S., and even U.S. Senate members into believing his myth of rampant scholarship fraud while in fact he was sponsoring, linking to, or providing advertising platforms for student loan companies that were engaged in rampant student loan fraud.
In addition, The College Scholarship Fraud Prevention Act of 2000 helped justify the economics and leverage by NASFAA members to increase student tuition. It took the N.Y. Attorney General nearly 10 years to figure out what the FTC should have smelled when Kantrowitz first gave an infamous speech to the FTC prior to The College Scholarship Fraud Prevention Act of 2000 being passed.
FastWeb likes to say "Never pay an application fee" for a scholarship because it is a warning sign of a scam, but the fact is that FastWeb and Kanrowitz used their websites and government connections to steer or encourage students and parents to use companies connected to NASFAA, which in turn led to the biggest student loan scandal in U.S. history.
The GSA spending scandal in Las Vegas, NV, may be considered as a duplicate example of the sort of relationships that Finaid/Fastweb had with the U.S. Dept. of Edcation/FTC/USPS; massive dollars spent on phantom scholarship fraud while student-loan fraud and home mortgage fraud was skyrocketing. All the while, Kantrowitz was getting rich by referral fees.
Mark Kantrowitz has a clear understanding how his millionaire income is generated, and what programs he must attack and/or censor. Instead of helping students find financial-aid, his first priority seems to be to appease his advertisers, and to attack competitive financial-aid products that are not related to NASFAA/NACAC .
« Last Edit: February 21, 2013, 11:09:31 AM by Scholarship Bob »