How can you tell if a scholarship offer is a scam? The Federal Trade Commission says these claims that should raise a red flag.
1) "The scholarship is guaranteed or your money back" No one can guarantee to get you a grant or scholarship.
2) "You cant get this information anywhere else." Scholarship search companies simply access databases that you can surf for free on the Internet.
3) "The scholarship will cost some money." Occasionally there may be a processing fee of $3 to $5 for legitimate scholarships but even this is rare. If you have to pay money to get money, its probably a scam.
4) "May I have your credit card or bank account number to hold this scholarship?" Never give out your credit card or bank account number.
5) "Well do all the work." You must apply for legitimate scholarships or grants yourself.
6) "Youre a finalist..." or "Youve been selected to receive a scholarship" in contests youve never entered. A number of bogus search companies falsely claim they are foundations or nonprofit to make their offers look legit.
[ Home | Your Money | Get Organized | Tightwad Tidbits | Living Better | Safety & Privacy | Buyer Beware | Kids & Money | About CEU | Search ]
|Web site coordinators:
Last updated: March 09, 2005
|Web site established
University of Missouri Extension does not
discriminate on the basis of race, color, national
origin, sex, religion, age, disability or status as a Vietnam-era veteran in employment or programs.