Don't be fooled by offers from scholarship and financial aid search companies that promise to locate financial aid for you for a fee. While some of these companies may be legitimate, all of the information they offer is available free of charge from the Financial Assistance Office.

Warning Signs from the Federal Trade Commission

• The company guarantees a scholarship or your money back.
• The scholarship service promises to do all the work.
• There is a fee required for the listings the service provides.
• The scholarship company claims to have exclusive information.
• You become a finalist in a contest you can't even remember entering.
• There is a request for you credit card or checking account number.

Don't become one of the thousands of families taken in by scams each year.

FTC: Ten Steps to Protect Yourself

• A lower fee is no guarantee that a program is legitimate.
• Don't believe a promise of guaranteed funds that you'll never have to repay.
• Beware of scholarship services that charge fees.
• Unclaimed financial aid funds are a myth.
• Don't pay an "advance fee."
• Check the terms closely if there's a guaranteed refund or money-back guarantee.
• Don't be fooled by names and logos that seem official.
• Disregard the news that you're a finalist in any contest that requires you to pay a fee for further consideration.
• DO NOT give out your credit card, bank, or checking account numbers to anyone who claims they need it for "exclusive" scholarship information.
• DON'T BE PRESSURED!

Beware: Financial Aid Seminars
You or your parents may receive a letter inviting you to attend a seminar on financial aid/scholarships and tips on completing the FAFSA from agencies other than a college financial aid office. If you attend one of these seminars, the FTC encourages you to follow these steps:

• Take your time. Don't be rushed into paying at the risk of losing out on the "opportunity." Solid opportunities are not sold through pressure tactics.
• Investigate the organization you're considering paying for help. Talk to your guidance counselor or contact the Financial Assistance Office. You may be able to get the same help for free.
• Be wary of "success stories" or testimonials of extraordinary success. Ask for a list of at least three local families who have used the service in the last year. Check with each family to see if they were satisfied with the results.
• Be cautious and ask how much money is charged for the service. Also, ask what products and services you will receive for your money and what the refund policy is. Get the information in writing. This is still no guarantee that you will recover any fees you pay.

Some seminars charge fees for services or information you can obtain for free from another source. How can you tell if the seminar is a scam?

• While the presentation might be free, you are pressured to give them a check, checking account number or a credit card to sign up for the service.
• You are told that the program can adjust your income and/or assets to make it seem like you earn less money, thereby qualifying for more aid. Such practices are frequently illegal.
• You are told that they can only answer specific questions after you have paid the fee.

**A seminar being held at a local school does not make it legitimate. Be sure to check your school or advisor if you think the seminar might be a scam.