SCHOLARSHIP
CENTER
SCHOLARSHIP SCAMS
(The following
is a summary of a bulletin published by
The College Board.)
Hundreds of scholarship services
are on the market, but many are scams. The
Federal Trade Commission (FTC) warns students to beware if the scholarship
service:
v
Guarantees that a student has won a scholarship
v
Pledges that this scholarship is not available
anywhere else
v
Requests a credit card or bank account number so
that they can hold the scholarship for the student
v
Promises that the service will do all the
application work
v
Requests payment before they give the
scholarship
v
Claims “a national foundation has selected you
to receive a scholarship” or “you are a finalist” in a contest the student
never entered
v
Offers membership in a “club” that guarantees
funds for college
Scholarship scams usually have a
particular set of characteristics. Watch out for these warning signs:
·
Application fees
·
Other fees
·
Guaranteed winnings
·
Everybody is eligible
·
Unsolicited opportunities
·
Typing and spelling errors
·
No telephone number
·
Mail drop for a return address
·
Operating out of a residence
·
Masquerading as a federal agency
·
Time pressure
·
Unusual requests for personal information
·
Notification by phone
·
High success rates
·
Disguised advertising
·
A newly-formed company
Please click this link to view the
09-10 Scholarships
