Scholarship Scam Alert
According to the Federal Trade Commission, unscrupulous companies guarantee or promise scholarships or grants. Some guarantee that they can get scholarships on behalf of students or award them “scholarships” in exchange for an advance fee. Many offer a “money back guarantee,” but include conditions that make it impossible to get the refund. Others provide nothing for the student’s advance fee-not even a list of potential sources. Some companies ask for a student’s checking account to “confirm eligibility, ” then debit the account without the student’s consent. Even if the company does provide the student with one or more award sources, most often the same information is available at the Financial Aid Office for free.
Caution Flags To Look For When Dealing With Fraudulent Scholarship Search Companies:
- “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 have been selected by a ‘national foundation’ to receive a scholarship”
- “You are a finalist” in a contest you never entered.”
- “Millions of scholarship dollars go unused each year.”
Scholarship Scam Homepage
Visit the Scholarship Scam Homepage for more information on scholarship scams, plus a list from the Federal Trade Commission (FTC) of fraudulent companies to avoid, and more.
If you have any questions about a company that is asking for money in exchange for any type of financial aid information, please contact the GTCC Financial Aid Office. The GTCC Financial Aid Office is located in the Medlin Campus Center on the Jamestown Campus, (336) 334-4822 Option 3-Greensboro, (336) 454-1126 Option 3-High Point, T.D.D. (336) 841-2158