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Digital News Report – Public officials from California to Pennsylvania are warning students and parents of scholarship scams. Although these scams are not new, victims can fall prey to them either online or in the mail.
The Federal Trade Commission (FTC) is providing information to help Americans avoid this fraud. They gave a list of tell-tale signs. If they say these things, be cautious:
“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.”
“We’ll do all the work.”
“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.
Look out for companies that use the word promise or guarantee. Some schools offer assistance in filling out and filing Free Application for Federal Student Aid (FAFSA) forms.
If you suspect fraud you can contact the FTC by calling 1-877-FTC-HELP.
By: Tina Brown