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Scholarship Scams
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Scholarship Scams
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Be careful when
searching for information on student financial
assistance. Make sure information and offers are
legitimate. Don't fall prey to fraud. Estimates show
that families lose millions of dollars to scholarship
fraud every year.
The College
Scholarship Fraud Prevention Act enhances protection
against fraud in student financial assistance. The
Federal Trade Commission (FTC) cautions students to look
for these telltale lines:
*"The
scholarship is guaranteed or your money back."
*"You can't get
this information anywhere else."
*"I just need
your credit card or bank account number to hold this
scholarship."
*"You've been
selected by a 'national foundation' to receive a
scholarship" or "You're a finalist" in a contest you
never entered.
To file a
complaint, or for toll free information, call
1-877-FTC-HELP (1-877-382-4357). The TTY number is
1-866-653-4261. Or, visit
www.ftc.gov/scholarshipscams.
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