Watch out for scams

"Watch out for scams" submitted by SchoolGrantsfor Editorial Team and last updated on Wednesday 13th July 2011

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You may have been told to apply for any and all scholarship opportunities. While obtaining as much FREE money as possible should be one of your goals, not all scholarship opportunities are legitimate.

The Federal Trade Commission estimates that several companies have scammed approximately 175,000 consumers on scholarship related programs. Beware of the following techniques used to scam you out of your money.

Free scholarship or a scam?

A scholarship or grant is free money—you should never have to pay to find, apply for or receive one. Watch out for companies that make promises, charge you money to apply for or receive a scholarship, or try to get you to send money by claiming you’re a finalist in a scholarship contest. Be wary of free seminars that turn into high-pressure sales pitches for financial aid information that’s readily available at no cost.

Want to Report a Potential Scam?

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