“Scholarship Scams. Many students use scholarships as a way to pay for college. But beware of fraudsters trying to scam your family out of money while you’re looking for ways to save. Protect yourself from scholarship scams by being aware of these potential signs:
- Official sounding doesn’t mean it is.
- Fees and guarantees.
- “Free” seminars and interviews.
- “We do the work for you.”
- Preference to first applicants.
- Scholarships put on hold.
- Lack of information on previous recipients.
From David Horowitz, Consumer Advocate
“In the 2012 fiscal year, roughly 3,500 U.S. colleges and universities raised $31 billion, 2.3% more than the previous year. Topping the list was Standford at $1.035 billion, followed by Harvard at $650 million.”, Diverse Issues in Higher Education, 2013.
“America’s colleges and universities are quietly shifting the burden of their big tuition increases onto low-income students, while many higher-income families are seeing their college costs rise more slowly, or even fall, an analysis of federal data shows. It’s a trend financial aid experts and some university administrators worry will further widen the gap between the nation’s rich and poor. The shift also runs contrary to an Obama administration push to make a college education more affordable for low income students.”, San Diego Union Tribune, March 10, 2014.
“Student debt holds back many would-be home buyers. Of the many factors holding back young home buyers – rising prices, tougher lending standards, a still shaky job market – none looms larger than the recent explosion of college debt.” Los Angeles Times, April 19, 2014.