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Don't Fall For Scholarship Scammers Says Ftc
By Matthew Paolini
The Federal Trade Commission has posted a well-timed reminder at www.ftc.gov about a disturbing increase in and financial aid scams targeting high school seniors and their parents. As upcoming grads get ready for college, students and parents both intensify their search for financial aid to pay for steep tuition and housing costs. Overwhelmed by the skyrocketing costs, they often become easy prey for scammers.

Everybody needs money for college and it's precisely this need that some less than scrupulous companies are exploiting. Companies like these often look for victims at free seminars, where smooth-talking pitchmen promise a guaranteed in exchange for an upfront fee. The FTC says the offers frequently come with a seemingly reassuring money-back guarantee, which in fact has so many strings attached that a refund is virtually impossible. Other scammers speak of "scholarship awards" requiring a fee or even checking account access in order to confirm a student's "eligibility".

Whatever the scam, students and parents should be aware of warning signs that a offer isn't legitimate. Any mention of a guarantee, for example, should raise a red flag immediately. Any offer or "award" that requires students or parents to surrender money, or even their credit card or banking information, is almost certainly fraudulent.

The FTC does acknowledge the existence of legitimate companies that match students with real opportunities for a fee, but here, too, consumers should take care to ask the right questions. View exorbitant claims of success with the skepticism they deserve. Ask companies that make such claims for the names and addresses of people in your own neighborhood that can provide references about the quality of service and the results achieved. Last but not least, get any fee-for-service agreement in black and white.

The pressure of finding a way to pay for an expensive college education often causes students and parents to overlook one of the best sources for student aid: the Federal government! The Department of Education pays out roughly 80 billion dollars of student aid annually in the form of grants, work-study

programs and loans. The opportunities available here are simply too good to overlook and they're guaranteed to be scam-free. For more free information, visit studentaid.ed.gov, the home of Federal Student Aid on the Web!

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Matt Paolini works from home as a distance learner. Visit University of Pheonix Online or University of Pheonix Degrees for free distance learning info.