Scholarship Scams
The last thing you want to go is apply for a bunch of scholarships only to find out that you are being scammed out of your money. The following is a list of some of the most common scholarship scams. You need to make sure that you fight these off whenever possible, because this is not good to fall victim to. Scholarships can be a healthy alternative to low interest student loan rates.
Credit Card Needed
If they require you to put a credit card on your application, then you should say no! There is no reason that you should have to put a credit card number on an application. That means that they will have access to your account. If you get the scholarship then you can give them account information if you want the money to be directly deposited into your account. This should be the only time you give them that information and that is because you won the money. Just stay away from giving out credit card information, because that can become a dangerous situation.
You Are Now a Finalist
It is always good to be a finalist for a scholarship that you signed up for. What happened if you get a letter in the mail telling you that you are a finalist for a scholarship that you have never heard of? How can this be? Generally, legit and good scholarships do not have to go out and search for finalists because they will have people knocking down their door. Be wary of any company who tries to tell you that you are a finalist even though you have never heard of it. They might have some ulterior motives. Do not be tempted by those.
Guaranteed or Money Back!
"We will get you a scholarship, and that is guaranteed or your money back!" Sounds great, doesn't it? The only problem is that you should not have given them your money in the first place. Remember, they are the ones who will be giving you the money, not vice versa. There are way too many free scholarship options out there to take advantage of. You do not have to settle for one that forces you to pay money. Stay away from these and look for the free ones. They will also be the ones that you will truly want to spend your time on in the end. If you have any questions, please visit our Frequently Asked Questions page.
