WASHINGTON, Sept. 17, 2014 /PRNewswire-USNewswire/ -- Scholarships and financial aid do not require upfront fees. While there are legitimate companies who will help guide you through the financial aid and college application process for a fee, disreputable companies may ask you for money up front and provide nothing in return. USA.gov warns about the following red flags:
- A "money-back guarantee" to secure a scholarship. Don't believe it. Unscrupulous companies attach conditions that make it impossible to get the refund.
- "Secret scholarships." If a company claims to have inside knowledge of scholarship money, they're lying. Information on scholarships is available freely to the public. Ask your librarian or school counselor.
- Telling students they've been selected as "finalists" for awards. If they ask for an up-front fee, head for the nearest exit.
- Asking for a student's checking account to "confirm eligibility." If they want bank account information or your credit card number to confirm or reserve a scholarship, it's a scam.
- Quoting a relatively small "monthly" or "weekly" fee. Then asking for authorization to debit your checking account for an unspecified length of time. Ongoing fees are a sure sign of a scam.
- Unsolicited offers. Whether it's an e-mail, phone call, or it arrived in your mailbox, if you didn't request the information, ignore the offer.
For more information on financial aid and paying for college see USA.gov.
CONTACT: Colleen Bayus, [email protected]
SOURCE USA.gov
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