College Planning Checklist

Don't get scammed. . .
on the way to college

Unfortunately, in their efforts to pay the bills, many students and their families are falling prey to scholarship scams. The Federal Trade Commission cautions students to look for the 6 signs that a scholarship search may be a scholarship scam:

"This scholarship is guaranteed or your money back." No one can guarantee that they'll get you a grant or 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.
"May I have 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 a set-up for an unauthorized withdrawal from your account.
"We'll do all the work." Don't be fooled. There's no way around it. You must apply for scholarships or grants yourself.
"The scholarship will cost some 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 that you never entered. Before you send money to apply for a scholarship, check it out. Make sure the foundation or program is legitimate.
The Federal Trade Commission suggests that students check with their school guidance counselor or local librarian for free information about current scholarships before paying someone for the same or similar scholarship lists. For more information about planning and paying for college, the FTC suggests visiting the Web site for Sallie Mae. Sallie Mae is a financial services corporation that specializes in funding student loans.

The U.S. Department of Education also has a Student Guide on the Web. This Student Guide claims to be the most comprehensive resource on student financial aid. Grants, loans, and work-study are the three major forms of student financial aid available through the Federal Student Financial Assistance Programs. Updated each award year, The Student Guide tells you about the programs and how to apply for them.