Franklin
County
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Scholarship Scams
Your child heads off to college this fall and your budget is
crying for help. What about using a scholarship organization to help pay
for some of those college expenses?
Before you start off on your search, keep in mind that tens of millions of
dollars are lost to scholarship scams every year.
But how can you avoid the frauds while helping the budget? There are some
warning signs. Beware of any scholarship which requests an application
fee, even a low one. Most legitimate scholarship sponsors do not require
up-front fees. Instead, they deduct fees, if any, from the disbursement
check.
If you're guaranteed to be awarded money, watch out! Legitimate
scholarship matching services do not guarantee scholarships. And don't
believe the claim that everybody is eligible.
When applying for a scholarship, the kids will have to submit their own
applications and write their own essays. An organization isn't going to do
it for them, no matter what it claims.
Source: Federal Trade Commission
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Franklin County University of Missouri Extension Center
FranklinCo@missouri.edu Last revised: 08/21/08 |
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