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An audit of the College Illinois prepaid tuition program determined the program’s overseers didn’t follow “sound business practices,” or state law, when it hired San Francisco-based Grigsby & Associates for investment advice.
The firm advised College Illinois on debt restructuring, but gave only one opinion to the Illinois Student Assistance Commission — to invest $12.8 million in ShoreBank Corp. The investment was lost last year when ShoreBank collapsed. Get the full story »
Beware if you turn to an expert with your FAFSA, or the college financial aid form that many parents are now rushing to complete before February and March deadlines.
The typical tax professional that helps you with your tax return may not be equipped to maximize your financial aid. In fact, your tax preparer might inadvertently undermine your chances of getting aid.
