Funding for college is often among the top concerns for students and parents alike. Unfortunately, thousands of families fall pray to scams each year as they are prayed upon by con artists. With people so desperate for money, opportunities are ripe to take advantage. However, there are some key things you can do to avoid becoming the next victim of some of the most common scams.
Get ready for some new golden rules of scholarship hunting. 1. Nothing in this life comes free Never fall for a scholarship that asks for a fee, even a small one, for application/administration. Scholarship organizations want to give away money, not collect it from you. Never provide a credit card number, bank account information, or a social security number. Also be suspicious of any scholarship you win but did not apply for. There is plenty of competition out there, so legit companies are not lacking for suitable candidates. If you didn’t apply, you didn’t win. 2. If something sounds too good to be true, it probably is. Be suspect of a company willing to “do all the work” for you. Getting money takes work. Expect to have to do work. Another indicator of a scholarship that might be questionable is that it is open to all. Scholarships almost always have some sort of criteria, including, but not limited to: gender, race/ethnicity, grades, first generation college, major, community service, geographic location, etc. 3. There are no guarantees in life. When a company tells you that they can match you up with an award or at any point they guarantee you a scholarship, it is almost likely a scam. Similarly, be wary of those scholarships that solicit you. Scholarships are competitive and there are no certainties in you getting money, nor are many organizations wasting potential awards by blanketing the community. Some other red flags are the absence of certain things. If a scholarship has no phone number, be suspect. A number makes them easier to track down. Some fake scholarships also have no proof of past winners. Good organizations want people to hear about their award. (Note: presence of a previous winner isn't a guarantee either as fake candidates can be drawn up by anyone with minimal talent on a computer.) Promoting fraudulent advertising and fundraising is illegal. If you feel you are a victim of a scam, contact your counselor and/or financial aid office and go over it together. Reporting a scam can be done in a number of ways here. But it isn't all bad news. There is aid out there, even if it is sometimes hard to find. Always be in close contact with the financial aid office of your perspective universities. Check out the Financial Aid page and the Federal Financial Aid resources to get started.
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AuthorOlder blog posts were for the UCLA Ext course "Using the Internet for College Counseling" Archives
February 2023
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