According to the Federal Trade Commission, perpetrators of financial aid fraud often use the following lines to sell their scholarship services; students should avoid any scholarship service or website that says the following:
"This 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."
"This scholarship will cost some money."
"You've been selected by a 'national foundation' to receive a scholarship" or "You're a finalist" in a contest you never entered.
If you believe you've been the victim of scholarship fraud, wish to file a complaint, or want more information, call 1 (877) FTC-HELP or see www.ftc.gov/scholarshipscams. On November 5, 2000, Congress passed the College Scholarship Fraud Prevention Act to enhance protection against fraud in student financial assistance by establishing stricter sentencing guidelines for criminal financial aid fraud.