Protect Yours from Scholarship Scams

More than 350,000 people are cheated by
scholarship scams each year.

It was only a couple of months back a pseudo Scholarship racket has arrested from South India. Private scholarship providers are often found misleading students and parents through newspaper advertisements. The latest andhra Pradesh scam involves Government officials itself posing a big threat to democracy and so called transparency of the Government.

According to the National Association of Student Financial Aid Administrators, a Western Educational agency, More than 350,000 people are cheated by scholarship scams each year.

Here are some facts that you should keeping mind.

If the Scholarship advertisemnt or the any correspondence regarding it cantains an of the following tunes, BEWARE.

• "The scholarship is guaranteed or your money back."

No one can guarantee that they'll get you a grant or a scholarship. Refund guarantees often have conditions or strings attached. Get refund policies in writing before you pay.

• "You can't get this information anywhere else."

There are many free lists of scholarships available. Check with your school or library before you decide to pay someone to do the work for you.

• Putting only box numbers in the advertisement, No address is     found.

• You are getting a "You are selected" message without actually applying.

• "I just need your credit card or bank account number to hold     this scholarship."

Don't give out your credit card or bank account number on the phone without getting information in writing first. It may be the set-up for an unauthorized withdrawal from your account.

• "We'll do all the work."

You must apply for scholarships or grants yourself.

• "The scholarship will cost money."

Don't pay anyone who claims to be "holding" a scholarship or grant for you. Free money shouldn't cost a thing.

• "You've been selected" by a "national foundation" to receive a     scholarship or "You're a finalist" in a contest you never     entered.

Before you send money to apply for a scholarship, check it out. Make sure the foundation or program is legitimate.

• Time pressure.Ignore offers that involve time pressure. If the company demands an immediate response, respond by hanging up the phone.

• "Everybody is eligible".Genuine Scholarships are for most eligible candidates, not for everybody.

• The unclaimed aid myth. You may be told that millions or billions of funds go unused each year because students don't know where to apply. This simply isn't true. Most financial aid programs are highly competitive. No scholarship matching service has ever substantiated this myth with a verifiable list of unclaimed scholarship awards. There are no unclaimed scholarships.

• Extreme excitements. If the brochure or advertisement uses a lot of hyperbole (e.g., "free money", "win your fair share", "guaranteed", "first come, first served" and "everybody is eligible"), be careful. Also be wary of letters and postcards that talk about "recent additions to our file", "immediate confirmation" and "invitation number".

• Fake Claims of university, government, Chamber of Commerce approval. Be wary of claims of endorsement and membership, especially if the recommendation is made by an organization with a name similar to that of a well-known private or government group. If a financial aid "seminar" is held in a local college classroom or meeting facility, don't assume that it is university sanctioned. Call the school/college authority to find out whether it is a university approved or sponsored event.

TIPS

• Get an independent opinion from a trusted source
  
• Don't respond to unsolicited offers
• School authority should Safeguard student privacy
• Monitor the use of your student lists
• Prohibit the third-party release of student information
• Promptly notify parents and authorities of any problems

 

 

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