Avoiding Scholarship Scams
Scholarship scams are another one of the stop signs to be aware of.
If the offer sounds too good, it probable is!
Each year a growing number of students (family) are cheated by scholarship scams according to the National Association of Student Financial Aid Administer (NASFAA). “Fraudulent scholarship and loan companies are counting on individual in desperate need of financial resources to not thoroughly investigate the company”, cautioned Bob Williams, President and CEO of the Better Business Bureau. Consider these warning signs:
- Scholarship with an application fee
- Scholarship services requiring credit card information
- Questionable email and mailing addresses
- Scholarships services requesting detailed personal and financial information
Many time scholarships are based on a contest, essay, talent and/or other criteria, however, the application and information required should not have the feel of a drawing. Those are generally associated with data warehousing organizations who intend on selling your information to marketing organizations.
There are numerous legit scholarship providers who award resources to help students and families supplement the cost for college.
Students should consult with their high school guidance counselor & college of interest to determine available programs.