Scholarship search services help in locating the suitable programs and speed up the process. However, according to the National Association of Student Financial Aid Administrators, many people are being cheated by scholarship frauds. The scholarship locator service scams have increased in number and the applicants should be careful from such frauds.
Financial aid come from Federal government or other institutions which decide to help students with a specific career interest, or members of some religious organization or on the basis of citizenship. In order to get help from these services, the scams should be identified and avoided. The Federal Trade Commission has listed out some tips to identify scholarship frauds.
1. If any scholarship is granted after initial payment from the grantee, they should become alert and the program should be considered as a fraud.
2. If exclusive information is being provided, chances are that you are being trapped.
3. Inviting disclosure of personal information like bank account number or credit card number should send an alarm and the offer treated as a fraud.
4. If responsibility is taken for doing all the work in your behalf, the offer should be outright rejected.
5. Scholarships costing money should be avoided.
6. Scholarships awarded in the form of contest victories or lucky-chance victories should never be accepted.
It is the consumer’s duties to stay informed and educated, and avoid becoming a victim of fraud crimes.
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