Inside LADA

March 11, 2016: Fraud Alert: Get Educated About College Scholarship Scams

Graphic image for Fraud Alert on Scholarship Scams

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College-bound seniors and their parents need to be wary of organizations promising aid to help defray costs.

In the college scholarship scam, fraudsters pose as legitimate government agencies, foundations or scholarship-matching services by using official-sounding titles. They tout advance-fee loan programs and financial aid seminars or charge an application fee. Some even promise money-back guarantees.

Most scholarship applications are free.

TIPS:

  • Do not apply for scholarships that require an application fee
  • Do not give out your personal identifying information to unsolicited mail or email
  • Attend financial aid seminars hosted by high schools and local colleges

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