How to Avoid Scholarship Scams
Estimates show that people lose millions of dollars to scholarship fraud every year. How can you tell if a scholarship is fake? Look for these headlines of typical scams … and then stay clear:
- “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.”
- “The scholarship will cost some money.”
- “You’ve been selected by a ‘national foundation’ to receive a scholarship” or “You’re a finalist” in a contest you never entered.
Remember, if it sounds too good to be true, it probably is. For more information, visit www.ftc.gov/scholarshipscams.
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