The Internet has made access to college scholarships easier than ever, but students need to beware. There can be dangers in the scholarship search, and consumers need to be aware of how to protect themselves from scholarship scams. The Federal Trade Commission provides six telltale signs of suspicious scholarships.
- Beware if the scholarship offers you a money back guarantee. You shouldn’t have to pay anything to apply for a scholarship. Scholarships exist to fund your education, not someone else’s vacation.
- Do not believe anyone who tells you that you cannot get this information anywhere else. Information on scholarships is widespread. Colleges can tell you full details on the programs they offer and affiliated programs. The same goes for organizations. Any site that tells you they have exclusive information on scholarships isn’t being honest.
- Do not fall for the line that you should share your credit card information or bank account number so that they can hold the scholarship for you. Keep private information private. If someone wants to pay for your school they will send a check to you or the school. Your bank account and credit card information isn’t needed.
- Do not buy into anyone offering to “do all of the work.” Even simple college scholarships require some effort, say entering basic high school info and college plans.
- Remember that no scholarship should cost ANY money.
- Do not believe any communication that tells you that you are a finalist in a contest you did not enter or that you have been chosen to receive a scholarship given by a national foundation. If you didn’t apply for a scholarship yourself you haven’t won. These people are just fishing for your personal info. Keep track of which scholarships you have applied for and with which organizations.
Other important things to remember are to know that authentic educational loans do not require a fee before you get the loan. Real loans will deduct the fees when you get a check. Also be aware of invitations to financial aid seminars with information about college scholarships that end up requiring you to purchase something in order to receive the aid.
It is important to investigate any college scholarship offer to determine if it is legitimate. There is really no need to pay any company or financial consultant to find scholarships. There are many websites that offer free help and typically have information on all of the college scholarships available. The bottom line is you do not need to pay any person or organization to get all of the necessary details on a college scholarship. Use the World Wide Web to let your fingers do your own free searching for college scholarships.
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