Additional Scholarship Resources

Be Cautious of Scholarship Scams

Be careful when searching for scholarship information and don’t fall prey to fraud. Make sure information and offers are legitimate. You are cautioned against using scholarship research services that charge a fee, as they use the same resources that are available to you for free – the Internet, scholarship books, employers and social organizations, etc.

Estimates show that families lose millions of dollars to scholarship fraud every year. According to the National Association of Student Financial Aid Administrators, more than 350,000 people are cheated by scholarship scams each year, losing some $5 million.  The Federal Trade Commission (FTC) cautions students to look for these telltale signs:

  • The scholarship is guaranteed or your money back
  • "You can’t get this information anywhere else."
  • "You’ve been selected by a 'national foundation' to receive a scholarship" or You’re a finalist" in a contest you never entered.
  • The scholarship will cost some money.
  • "We’ll do all the work."
  • "I just need your credit card or bank account number to hold this scholarship."

For more information on this topic, visit www.ftc.gov/scholarshipscam