Scholarship Scams

Be careful when searching for information on scholarships. Estimates show that families lose millions of dollars to scholarship fraud every year. The Federal Trade Commission (FTC) cautions students to look for these telltale lines: “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.” “We’ll do all the work.” “The scholarship will cost some money.” “You’ve been selected by a ‘national foundation’ to receive a scholarship.” “You’re a finalist” in a contest you never entered. To file a complaint, or for free information, call 1-877-FTC-HELP (1-877-382-4357) or visit www.ftc.gov/scholarshipscams.