TIP OF THE WEEK - DECEMBER 27, 2010

10 Scam Warning Signs, Courtesy of FastWeb

Knowing these warning signs can keep you from being a scholarship scam victim.

1. Fees: You shouldn't have to pay to search for or apply for scholarships.

2. Credit card or bank account information needed: You should never
have to give credit card or bank account information to award providers.

3. Scholarship guarantee: No one can guarantee that you'll win a
scholarship because no one can control scholarship judges' decisions.
Also, be wary of "high success rates"—they usually do not refer to actual award winners.

4. No work involved: You can't avoid putting in time to fill out a
scholarship application.

5. No contact information: Legitimate sponsors should provide contact
information upon request. If the sponsor does not supply a valid e-mail
address, phone number and mailing address (not a PO box) after you've
asked for one, that could the sign of a scam.

6. Unsolicited scholarships: If you are called to receive an award for
which you never applied, be alert—it's most likely a scam.

7. Pressure tactics: Don't allow yourself to be pressured into applying
for a scholarship, especially if the sponsor is asking for money up front.

8. Claims of "exclusive" scholarships: Sponsors don't make their
scholarships available through only one service.

9. Sponsor goes out of their way to sound "official": Scammers sometimes use official-sounding words like "national," "education" or "federal" or they display an official-looking seal to fool you into thinking they are legit. Check with your school if you question a scholarship provider's legitimacy.

10. Your questions aren't answered directly: If you can't get a straight answer from a sponsor regarding their application.