LAS VEGAS (FOX5) — Scholarships play a key role in many students’ college educations. Unfortunately for some, the application process can also offer a lesson in getting scammed.
The Federal Trade Commission says cybercriminals find potential victims through their social media posts. They’ll then contact them via direct message or email and invite them to apply for what appears to be the perfect scholarship. Both the email and the website look legitimate, so a student may feel comfortable moving forward with the application. But once they’re selected as a “finalist,” they’re asked to pay processing fees to secure the funding. And that is the red flag that tells them it’s a scam.
Legitimate scholarships do not ask for any money from applicants up front. Be suspicious of any invitation that requests any sort of “redemption fees.” There are companies that provide lists of scholarship opportunities for a fee. However, beware of any offering a “money back guarantee” for successful applications. The FTC says most have conditions in their contracts that make it impossible to get a refund.
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