The Office of the Inspector General identified more than 85,000 recipients who might have participated in student aid fraud rings.
According to a report by the Office of the Inspector General, college students who are suspected of engaging in loan fraud increased 82 % in the last four years from 18,719 students to 34,007.
Between 2009 and 2012, student aid fraud has risen 82%.
The University of Phoenix, which has 420,000 students, has devoted four employees to this issue and has implemented a series of warning signs that so far have prevented the fraudulent disbursement of $76 million.
-Instructional Technology Council Learn More >>
The cost of student aid fraud is about $874 million, with the government losing about $187 million.
-U.S. Department of Education, Semiannual Report to Congress Learn More >>
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