Beware of Scholarship Scams
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by: DanielZ.Kane
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Word Count: 419
Estimates vary, but it seems likely that these crooks...and that is an appropriate word...collect in excess of $100 million annually from unsuspecting families.
They do it by preying on families worried about the cost of college; families who know little or nothing about scholarships and financial aid; families who are often easy targets.
The first contact between the scammers and their potential victims is a letter offering expert advice and assistance.
The letter doesn't look like typical junk mail. The logo often looks like that of an Ivy League college, and the letterhead and paper are generally on fairly high quality paper. Like the con men behind them, the promotional materials look credible.
The letters almost always begin by frightening families about the high cost of college.
Once they have stated the problem...paying for college...they assure you they can provide the solution. They may offer to "teach you the secrets of financial aid", "locate millions of dollars in unused scholarships", or otherwise help you take advantage of their special expertise.
What all the letters have in common is that they invite families to a free seminar, often at a local hotel. Because the letter offers the hope of extra financial aid, and because the evening is free, many families accept the invitation. Thats mistake number two.
Ultimately, attendees are subject to a group sales pitch for the companys services. The pitches are not exactly the same, but all promise that their services will result in students receiving more money for college. And, none tell you that everything they offer is either unnecessary or can be gotten elsewhere, at no cost.
The initial presentation is followed by an individual meeting with a high pressure salesperson who uses a well-formulated approach...like those of the very worst car salespersons...developed to collect up to $2,000 and a signed contract from families before they have had too much time to think about it.
Don't be the victim of financial aid con men (and women). There are lots of good websites offering free scholarship searches and financial aid advice. And, high school counselors and college financial aid counselors will gladly give you advice and answer your questions. There is no need to turn elsewhere.
Most important of all, never pay anyone for financial aid advice or services. Never.
About the Author
Daniel Z. Kane is a university dean with websites offering information on scholarships, online schools, online degrees, and online colleges .
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