Scholarship Scams: What Everyone Should Know

Go for the Dream, but Don't Get Dunked While Diving for Dollars!

Scholarships, financial aid, work-study programs, internships, and grants might be the only way some individuals can fulfill the dream of a higher education. There are plenty of legitimate programs that provide dollars to help you achieve your education goals, but it takes serious time to find them and apply to them. Unfortunately, con artists are aware of this and have scammed students and parents out of millions of dollars with the promise of finding you money. This article provides some of the tell-tale signs of possible scholarship scams and what to do if you suspect a scam.

BE SUSPICIOUS OF TELL-TALE STATEMENTS AND ACTIONS

Getting a higher education might mean attending a community college, a four-year college, an Internet university, a private school, or a trade school. Regardless of the goal, almost everyone needs help paying for tuition, room and board, and books. Many of us go searching for ways to help pay these expenses, but don't know exactly where to dig for legitimate information about financial aid, scholarships, federal or state grants, or even internships to help cover the costs of higher education. You can easily find out about opportunities from your counselor or education institution, but if you search other resources, be suspicious if you see the following statements:

·"The scholarship is guaranteed or your money back."
·"You can't get this information anywhere else."
·"I just need your credit card or bank account number to hold this scholarship."
·"We'll do all the work."
·"The scholarship will cost money."
·"Your a finalist to receive a scholarship by a national foundation."
·"Millions of scholarships go unclaimed each year."
·"Everybody is eligible."
·"We apply on your behalf."
·"90% of our customers have been awarded scholarships."
·"We will provide immediate confirmation."

In addition to red-flag statements, be suspicious of the following actions: