Don't Be Fooled By Phony Scholarship Offers

Let us face it - many students are still naive about scams and fraud

, and are an easy mark for fraudsters looking to take advantage of the situation and offer a bogus scholarship. These fraudsters are aware of the fact that earning a scholarship can be hard, and that the competition is tougher than ever due to the current economic situation. Fortunately, the Department of Education has established guidelines to help students spot fraudulent scholarship offers. We have some advice for any student who wants a legit scholarship while avoiding the bogus ones.

Be wary of so-called "guaranteed" scholarships. That's because scholarships are never guaranteed. There are forms of financial aid given to certain types of students, but these are always offered by the college itself, and never by a third party. You might regret your decision if you listen to anyone who says that you have been guaranteed a scholarship. It is the scholarship boards and committees who make the decisions, and not any bogus provider who can guarantee payment of your tuition.

Guard your credit card and other financial details with your life. Sharing your bank account information or credit card number can very easily lead to unknown third parties making charges on your card or withdrawing from your bank account. A real scholarship provider will make out a check payable to either you or your college of choice. If you had legitimately won a scholarship, you shouldn't be asked to divulge your bank account or credit card details.

You don't have to pay anything to attend special seminars. This would defeat the fact that scholarships shouldn't cost a thing. There are so-called "seminars" that charge a nominal fee in exchange for instructions on how to win a scholarship - be wary of these fraudulent activities as well.

Unlike loans, scholarships do not need to be paid back. It bears repeating that scholarships are free, unlike student loans that need to be paid back in full. Don't bother with these fraudsters - diligent research is what you usually need to find the right scholarship.

When surfing the Internet, don't get too excited about winning a scholarship you never applied for. Remember that you wouldn't win a scholarship opportunity if you didn't apply for one. If you reply to these emails or click on the links in the emails, you could infect your computer with a virus, or expose it to equally malevolent spyware. Additionally, these scammers would entice people into clicking their links by claiming to be a nationwide organization or large company (complete with official logo) - but again, you can't have a scholarship if you didn't apply for one.

We advise you, the student, to use your best judgment, as most scholarship providers are legitimate - but there are always people out there looking to take advantage of you.

by: Kyle Watts

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