Scholarship & Financial Aid Scams

Each year, thousands of families are defrauded by scholarship and financial aid scams. These individuals prey on students and parent's confusion and anxiety regarding financial aid, offering services that are generally provided for free by the financial aid community.

A few hints in identifying a scholarship or financial aid scam:

  • Legitimate companies never guarantee or promise scholarships or grants.
  • Avoid companies that want you to pay a fee to file a financial aid application.
  • Avoid companies that want you to pay a fee or need your credit card number to "hold" a scholarship.

For more tips on how to identify scholarship and financial aid scams check out The Smart Guide To Financial Aid or the NASFAAA Be A Smart Consumer web page.

If unsure of a company, check with the Better Business Bureau or consult the Federal Trade Commission for tips, facts and reporting information.