Uncle Sam is Great Alternative to Scholarship Scammers
By Matthew Paolini
The Federal Trade Commission has posted a well-timed update at www.ftc.gov about a rise in scholarship and financial aid scams targeting high school seniors and their parents. As high school graduation draws near, students and their parents shift into high gear as they search for the money to cover the high cost of college tuition and housing. Overwhelmed by the skyrocketing costs, they sometimes become easy victims of scholarship scammers.
College costs money and lots of it - a fact that many unscrupulous companies are exploiting to the detriment of students interested in a good education and the improved career prospects that come with it. Companies like these often look for victims at free seminars, where smooth-talking pitchmen promise a guaranteed scholarship in exchange for an upfront fee. The FTC says the offers frequently come with a seemingly reassuring money-back guarantee, which in fact has so many strings attached that a refund is virtually impossible. Other scholarship scammers tout "scholarship awards", but require a fee or even access to credit cards and checking accounts in order to verify a student's "eligibility" for the award.
Whatever the scam, students and parents should be aware of warning signs that a scholarship offer isn't legitimate. Any mention of a guarantee, for example, should raise a red flag immediately. Offers requiring an upfront fee, or access to credit card or banking information, have virtually no chance of being legitimate.
While the FTC emphasizes that there are legitimate companies that match a student's profile with a list of real scholarship opportunities for a fee, it pays to ask the right questions of these companies, too. Don't fall for overblown success stories. Instead, make a point of asking companies for local references citing real people you can talk to about the quality of service and results. Last but not least, get any fee-for-service agreement in black and white.
The pressure of finding a way to pay for an expensive college education often causes students and parents to overlook one of the best sources for student aid: the Federal government! The Department of Education pays out roughly 80 billion dollars of student aid annually in the form of grants, work-study programs and loans. The opportunities available here are simply too good to overlook and they're guaranteed to be scam-free. Check out studentaid.ed.gov, the home of Federal Student Aid on the Web, for more free information!
About the author
Matt Paolini works from home as a distance learner. Visit University of Pheonix or University of Phoneix for free distance learning info. from http://www.FreeArticlesAndContent.com
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