It happens annually. Students and their families are cheated by scholarship scammers...people who promise to help them land scholarships and financial aid they wouldn't otherwise receive.
It is widely believed that these scammers defraud families out of more than $100 million dollars every academic year.
Scholarship scam artists victimize families by playing into their concern about meeting the rising costs of college for their children. Many such families have not been through the financial aid process before and are seeking help and assurance. The scammers offer these worried families lots of assurances and false promises, only to defraud them in the end.
The scammers first send students a letter using a company with a name that makes it sound like a benign organization dedicated to helping students maximize their financial aid awards.
The letter often looks like it comes from a top college or university. That is in no way an accident. The font size, the high grade letterhead, and even the company logo are chosen by the scammers to give the letter an "academic look". It is the very worst kind of junk mail, but that isn't what it appears to be. As a result, instead of throwing the letter away, most families open it. That's their first mistake.
The letters generally start by appealing to a family's fear by talking about the high cost of college. Often the letters exaggerate the cost.
But, the letter goes on to say, there is no need for worry. We can work with you to ensure that you receive lots of financial aid. Often there will be rhetoric about helping students find some of the millions of dollars in unused aid. In some instances there will be talk about teaching you "secrets" that colleges and universities do not want you to know.
What all the letters have in common is that they invite families to a free information session at a local hotel function room or similar venue. Because the letter offers the promise of extra financial aid, and because the information session is free, many families eagerly accept the invitation thinking they have nothing to lose. That is mistake #2.
Those who attend the meeting are made to listen to a group sales pitch which takes on the themes of the letter...college costs are very high, but do not worry...we can get you the financial aid you need. Trust our experience and you'll be fine.
The group pitch is followed by individual meetings during which families are heavily pressured to immediately write a check for the services offered. All too many families yield to the pressure, writing checks of up to $1,000 or more in exchange for a set of services worth absolutely nothing.
It is very sad. And, it happens every year. Don't fall for this kind of scam. Get all of your financial aid and scholarship advice from your high school counselor, college admissions and financial aid counselors, and the dozens of reputable publications and websites.
Avoid being scammed. Do not ever, under any circumstances, pay for financial aid or scholarship advice or assistance.
It is widely believed that these scammers defraud families out of more than $100 million dollars every academic year.
Scholarship scam artists victimize families by playing into their concern about meeting the rising costs of college for their children. Many such families have not been through the financial aid process before and are seeking help and assurance. The scammers offer these worried families lots of assurances and false promises, only to defraud them in the end.
The scammers first send students a letter using a company with a name that makes it sound like a benign organization dedicated to helping students maximize their financial aid awards.
The letter often looks like it comes from a top college or university. That is in no way an accident. The font size, the high grade letterhead, and even the company logo are chosen by the scammers to give the letter an "academic look". It is the very worst kind of junk mail, but that isn't what it appears to be. As a result, instead of throwing the letter away, most families open it. That's their first mistake.
The letters generally start by appealing to a family's fear by talking about the high cost of college. Often the letters exaggerate the cost.
But, the letter goes on to say, there is no need for worry. We can work with you to ensure that you receive lots of financial aid. Often there will be rhetoric about helping students find some of the millions of dollars in unused aid. In some instances there will be talk about teaching you "secrets" that colleges and universities do not want you to know.
What all the letters have in common is that they invite families to a free information session at a local hotel function room or similar venue. Because the letter offers the promise of extra financial aid, and because the information session is free, many families eagerly accept the invitation thinking they have nothing to lose. That is mistake #2.
Those who attend the meeting are made to listen to a group sales pitch which takes on the themes of the letter...college costs are very high, but do not worry...we can get you the financial aid you need. Trust our experience and you'll be fine.
The group pitch is followed by individual meetings during which families are heavily pressured to immediately write a check for the services offered. All too many families yield to the pressure, writing checks of up to $1,000 or more in exchange for a set of services worth absolutely nothing.
It is very sad. And, it happens every year. Don't fall for this kind of scam. Get all of your financial aid and scholarship advice from your high school counselor, college admissions and financial aid counselors, and the dozens of reputable publications and websites.
Avoid being scammed. Do not ever, under any circumstances, pay for financial aid or scholarship advice or assistance.
About the Author:
The author is a school social worker and independent college counselor in Wisconsin. In her spare time, she contributes articles to educationally themed websites on topics such as the advantage of attending an online college and how to get a career boost by earning an online degree.
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