As you search for financial assistance on the Internet, remember that many companies and web sites will be trying to make you pay for information that should be free. Be careful not to fall victim to fraud.
The Federal Trade Commission (FTC) cautions students to look for these telltale sales pitches:
· “The scholarship is guaranteed or your money back.”
· “You can’t get this information anywhere else.”
· “I just need your credit card number or bank account number to hold this scholarship.”
· “We’ll do all the work.”
· “The scholarship will cost some money.”
· “You’ve been selected by a ‘national foundation’ to receive a scholarship” or “You’re a finalist” in a contest you never entered.
Do not pay for scholarship information. Apply for as many as you can, but if a company or web site tells you that you can pay for school with scholarships alone, they're probably trying to sell you something.
To file a complaint, or for more information, call 1-877-FTC-HELP (382-4357) or visit www.ftc.gov/scholarshipscams.
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