5 New College Scholarship Frauds To Look Out For !

5 New College Scholarship Frauds To Look Out For !

by Red Oak College Planning- Mike Velasco

With so many families looking for scholarship money to offset today’s
huge tuition bills, it’s more important than ever to know the facts…

You see, the number of scholarship scams and frauds are
ever-increasing, and the tactics used to separate families from their
money have taken on new levels of deception.

Knowing what to look for and how to avoid these scams can be your greatest protection.

Is the scholarship company making "too good to be true" claims?

Some scholarships go as far as to claim they’re sponsored by the
Better Business Bureau, government agencies, or specific colleges or
universities.

In fact, we've seen many fraudulent scholarship companies use names
designed to trick families into believing they’re federal agencies and
organizations. (A common tactic is using a Washington, D.C. address to
“appear” official and gain peoples’ trust.)

Use great caution here, because no government agency endorses or sponsors any private organization.

In short, the bigger the claim, the faster you should turn away.

But if you do think the scholarship is legitimate, by all means investigate their claims.

How long has the company been around? Does the company have proof of past winners it will share with you?

Most scholarships have been around for some time, and if they’re
legitimate – they’ll answer your questions and provide records assuring
their legitimacy.

(Note – not all “new” scholarships are frauds, but you should always
ask new companies for references, and get as much factual information up
front as possible.)

"Unclaimed Scholarship Money"

This tactic involves the scam artist marketing some huge amount of
money – often in the millions or billions – that went "unclaimed" the
previous year.

Do not fall for this! Truth is, there’s not a single legitimate
scholarship search that has ever published a list of unclaimed
scholarships.

Bogus application fees

Some companies will ask for "application" or "processing" fees, often citing very convincing reasons for doing so.

The reality is, true loan and scholarship resources will never ask for money up front.

Bottom line: You should never pay a fee to apply for a scholarship.

"First Come, First Served"

This approach baits families into believing they’ll increase their chances of scholarship money if they’re among the "first in."

This couldn’t be any further from reality. Most times, it’s a trick designed to get people to act quickly and impulsively.

Legitimate scholarships simply don’t give preferential treatment on a first-come, first-served basis.

The bottom line is, if it smells like a scam, there’s a reason. Never
be afraid to ask questions, get claims in writing, and do your
research.

A little extra diligence and some common sense can go a long way to protecting your money.

A Unique Opportunity

You won’t find this anywhere else in the college planning space…

It’s an “inside look” at your college funding situation with an authorized college funding advisor – absolutely free.

I’ll help you figure out where you stand… including whether or not

you can lower your expected family contribution (EFC) – and maximize

your eligibility for financial aid. What’s more – you set the date and

time for the call. Sign up for your free analysis today please register at: https://redoakcollegeplanning.com

or call us at 908-758-1322 to schedule a free consultation with Mike Velasco.

Visit our website to learn more about College Financial planning :

https://redoakcollegeplanning.com/

About Red Oak College Planning:

Red Oak College Planning is located in Basking Ridge N.J. Mike
Velasco the President of Red Oak College Planning has over 30 years of
experience in the financial services industry, with expertise in college
financial planning, retirement planning and family income and estate
protection. Red Oak College Planning is affiliated with the College
Planning Network ("CPN"), and together they have helped numerous parents
successfully navigate the college admissions and financial aid process
so they can comfortably afford to send their children to college...
regardless of the cost.

CPN is the Nation's largest and most reputable college admissions and
financial aid servicing center and has averaged nearly $19,075 per year
in college aid for its average family and nearly $4,900 in financial
aid award appeals.