As college tuition continues to rise, you will most likely be looking for all the help you can get in finding ways to pay for your college education.
Unfortunately, there are some people out there that have developed underhanded ways to make a profit on your need for help.
While ads stating "Free Money for College!" can be attractive, you can be sure they are nothing more than scams.
According to the U.
S.
Federal Trade Commission, there are 6 signs that advertise a scholarship scam: o"This scholarship is guaranteed, or your money back.
" It's impossible for anyone to guarantee that you will receive a scholarship or a grant.
In some cases these companies will promise to return your "processing fee" if you do not receive the scholarship, but they usually have built in loopholes in the fine print that will allow them to keep it instead of returning it to you.
1.
"You can't get this information anywhere else.
" There are many sites that provide the same information for free, including this site.
You can also find the same information from libraries and publications.
2.
"I just need your credit card or bank account number to hold this scholarship.
" Never, ever provide your credit card information, checking account information of Social Security number to anyone that you have not first contacted yourself.
It's far too easy for a con artist to drain your checking account, even if they don't have your signature.
All they need is your account number.
3.
"We'll do all the work.
" No one can do all the work for you; you will need to do at least some of it yourself; such as possibly writing an essay or getting letters of recommendation.
One of the most common scams involves an offer to fill out the FAFSA.
This form comes with a guide and in reality; it's really not that hard to do it.
Don't waste your money on paying someone else to do it.
4.
"The scholarship will cost some money.
" Always remember that scholarships are free, there is no need to pay for them.
According to financial aid guru Mark Kantrowitz, "Never invest more than a postage stamp to get information about scholarships.
" There is only one well known, and legitimate, financial aid application that charges a fee and that is the PROFILE from the College Scholarship Service (CSS); a division of The College Board.
This form is used by many private colleges in order to obtain supplement information from financial aid applicants.
If it is needed, the college itself will inform you.
5.
"You've been selected by a national foundation to receive a scholarship" With this scam, the "scholarship" will be from a group you never applied to.
Another common scam is "You're a finalist!" Again, from a contest you never entered.
Always ask the caller if you can call them back so that you can do some research, if you don't remember applying to such an organization or entering such a contest.
Most likely, the caller will hang up and you won't hear from them again.
Keep in mind that all legitimate scholarship offers are delivered in the mail, not by phone.
6.
Regardless of whether you are contacted on the phone or attend a meeting or seminar on how to win scholarships, don't allow yourself to be pushed into making a payment or making a decision.
Take the time to discuss it you're your high school counselor first.
Finally, remember that 'testimonials' from the audience are usually people who have been paid for their services.
There are plenty of legitimate companies that provide scholarship search services for a fee, but even those cannot guarantee you will receive a scholarship-no one can.
Approximately, 95% of the aid awarded actually comes from federal or state agencies.
The billions of dollars that are commonly advertised as available in scholarship, but that goes unclaimed are mostly awards for which no one else would be eligible and awards for the children of sponsoring companies' employees.
Unfortunately, there are some people out there that have developed underhanded ways to make a profit on your need for help.
While ads stating "Free Money for College!" can be attractive, you can be sure they are nothing more than scams.
According to the U.
S.
Federal Trade Commission, there are 6 signs that advertise a scholarship scam: o"This scholarship is guaranteed, or your money back.
" It's impossible for anyone to guarantee that you will receive a scholarship or a grant.
In some cases these companies will promise to return your "processing fee" if you do not receive the scholarship, but they usually have built in loopholes in the fine print that will allow them to keep it instead of returning it to you.
1.
"You can't get this information anywhere else.
" There are many sites that provide the same information for free, including this site.
You can also find the same information from libraries and publications.
2.
"I just need your credit card or bank account number to hold this scholarship.
" Never, ever provide your credit card information, checking account information of Social Security number to anyone that you have not first contacted yourself.
It's far too easy for a con artist to drain your checking account, even if they don't have your signature.
All they need is your account number.
3.
"We'll do all the work.
" No one can do all the work for you; you will need to do at least some of it yourself; such as possibly writing an essay or getting letters of recommendation.
One of the most common scams involves an offer to fill out the FAFSA.
This form comes with a guide and in reality; it's really not that hard to do it.
Don't waste your money on paying someone else to do it.
4.
"The scholarship will cost some money.
" Always remember that scholarships are free, there is no need to pay for them.
According to financial aid guru Mark Kantrowitz, "Never invest more than a postage stamp to get information about scholarships.
" There is only one well known, and legitimate, financial aid application that charges a fee and that is the PROFILE from the College Scholarship Service (CSS); a division of The College Board.
This form is used by many private colleges in order to obtain supplement information from financial aid applicants.
If it is needed, the college itself will inform you.
5.
"You've been selected by a national foundation to receive a scholarship" With this scam, the "scholarship" will be from a group you never applied to.
Another common scam is "You're a finalist!" Again, from a contest you never entered.
Always ask the caller if you can call them back so that you can do some research, if you don't remember applying to such an organization or entering such a contest.
Most likely, the caller will hang up and you won't hear from them again.
Keep in mind that all legitimate scholarship offers are delivered in the mail, not by phone.
6.
Regardless of whether you are contacted on the phone or attend a meeting or seminar on how to win scholarships, don't allow yourself to be pushed into making a payment or making a decision.
Take the time to discuss it you're your high school counselor first.
Finally, remember that 'testimonials' from the audience are usually people who have been paid for their services.
There are plenty of legitimate companies that provide scholarship search services for a fee, but even those cannot guarantee you will receive a scholarship-no one can.
Approximately, 95% of the aid awarded actually comes from federal or state agencies.
The billions of dollars that are commonly advertised as available in scholarship, but that goes unclaimed are mostly awards for which no one else would be eligible and awards for the children of sponsoring companies' employees.