Scholarship Scams


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Scholarship Scams!

Almost everyone is looking for money to pay for their college education. And there are a few thieves around who prey on your willingness to believe. Over the last several years the FTC has shut down con artists who had swindled over 175,000 people out of over $22 million while peddling grants, scholarships and financial assistance.

I get emails almost daily telling me that I've won a scholarship, grant or I'm eligible for a loan, no matter how bad my credit might be. The one thing they all have in common is they make you think they are solving your biggest problem - paying for college.

The FTC tells you to watch out for the following buzz lines:

  • "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 some money."
  • "You've been selected by a 'national foundation' to receive a scholarship"
  • "You're a finalist" in a contest you never entered.
NO scholarships are guaranteed.
Information on ALL the scholarships is available for FREE (or maybe for the cost of a book)
You should NEVER have to pay to get a scholarship or grant.
You are NEVER selected to win a scholarship unless you've done some kind of entry first.
Ditto on the contests... you've got to enter first to win.

There are some legitimate companies out there that wil ask for a fee, but the difference is that they won't tell you that any scholarships are guaranteed. They might provide you with a list of scholarships that you may be eligible for based on a profile that you fill out.

There are other companies that will offer to process your FAFSA for a fee. Save yourself the money and visit studentaid.ed.gov/ for information on filing the FAFSA. Then go to fafsa.gov to fill out the FAFSA on your own. Good luck and good hunting.

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