Tell-Tale Signs It's a Scam
According to the Federal Trade Commission's Scholarship Scams, if you or your child hears these lines from a scholarship service, you may be getting duped:
"The scholarship is guaranteed or your money back."No one can guarantee that they'll get your child a grant or a scholarship. Refund guarantees often have conditions or strings attached. Get refund policies in writing—before you or your child pays.
"You can't get this information anywhere else."There are many free lists of scholarships available. You and your child should start researching scholarships at the high school or library before you decide to pay someone to do the work for you.
"I just need your credit card or bank account number to hold this scholarship."You or your child shouldn't give out credit card or bank account number on the phone without getting information in writing first. It may be the set-up for an unauthorized withdrawal from your account.
"We'll do all the work."Don't be fooled. There's no way around it. Your child must apply for scholarships or grants himself.
"The scholarship will cost money."Don't pay anyone who claims to be "holding" a scholarship or grant for your child. Free money shouldn't cost a thing.
"You've been selected by a national foundation" to receive a scholarship or "You're a finalist" in a contest you never entered.Before you or your child sends money to apply for a scholarship, check it out. Make sure the foundation or program is legitimate.
According to the Federal Trade Commission's Scholarship Scams, if you or your child hears these lines from a scholarship service, you may be getting duped:
"The scholarship is guaranteed or your money back."No one can guarantee that they'll get your child a grant or a scholarship. Refund guarantees often have conditions or strings attached. Get refund policies in writing—before you or your child pays.
"You can't get this information anywhere else."There are many free lists of scholarships available. You and your child should start researching scholarships at the high school or library before you decide to pay someone to do the work for you.
"I just need your credit card or bank account number to hold this scholarship."You or your child shouldn't give out credit card or bank account number on the phone without getting information in writing first. It may be the set-up for an unauthorized withdrawal from your account.
"We'll do all the work."Don't be fooled. There's no way around it. Your child must apply for scholarships or grants himself.
"The scholarship will cost money."Don't pay anyone who claims to be "holding" a scholarship or grant for your child. Free money shouldn't cost a thing.
"You've been selected by a national foundation" to receive a scholarship or "You're a finalist" in a contest you never entered.Before you or your child sends money to apply for a scholarship, check it out. Make sure the foundation or program is legitimate.
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