How to spot a scholarship scam

The FTC lists these as things scammers say. If you hear one, stop:

• “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.”
• “We’ll do all the work. You just pay a processing fee.”
• “The scholarship will cost some money.”
• “You’re a finalist” (for a contest you never entered).

The FTC also says not to pay any money at a financial aid or scholarship seminar, and that only scammers tell you to pay now or risk losing out on the opportunity. Pressure to act fast is a warning sign.

Don’t give anyone your password, your FSA ID, or your credit card or bank account number to “hold” or “process” a scholarship. The FTC says never to share your FSA ID (the username and password you use for the FAFSA), even with a company or consultant offering to help.

• In the US: the FTC says the FAFSA is always free to fill out and submit, and to never pay anyone to fill it out or process it. Start at StudentAid.gov.
• In Canada: you apply for federal and provincial student aid through your province or territory. Find your program on canada.ca and go to that official site yourself, instead of following a link someone sent you.
• For a school award: look it up on your school’s own financial aid or awards page. Our school pages link to each school’s official site.

Free help is out there. The FTC points to your school counsellor or financial aid office. See talking to the financial aid office.

1. Don’t pay anything, and don’t send personal or bank details yet.
2. Find the organization’s website yourself, by searching its name, rather than using the link in the message.
3. Check that the award is listed there, with the same name, rules and deadline. If you can’t find it, ask your school’s financial aid office.
4. Be wary of anything that says you won a contest you never entered.

• In the US: the FTC says to report it at ReportFraud.ftc.gov and to your state attorney general (find your state’s office on the NAAG list).
• In Canada: the Canadian Anti-Fraud Centre says to contact your local police as soon as possible if you are a victim. It also recommends reporting fraud, whether you are a victim or not, online or by phone at 1-888-495-8501, Monday to Friday, 10 am to 4:45 pm Eastern (see its reporting page).
• General tip from WealthNutz (not from the FTC or the Canadian Anti-Fraud Centre): if you gave a card or bank account number, call your bank or card company using the number on your card or their official website.

Scholarship search on WealthNutz looks at university, government and foundation pages. Each result links to the page it came from, and most show when we last checked it or that it was found in today’s search. Confirm details on the official award page before you apply. Search is free, with no email needed. We never charge students, and government aid links are never paid. See how we make money.

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• How student aid works