//How to Avoid Scholarship Scams

Estimates show that people lose millions of dollars to scholarship fraud every year. How can you tell if a scholarship is fake? Look for these headlines of typical scams … and then stay clear:

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

Remember, if it sounds too good to be true, it probably is. For more information, visit www.ftc.gov/scholarshipscams.