Here’s one scenario: a student receives a call that they’ve been awarded a scholarship, which they may or may not remember having applied for. To deposit the funds, all the caller needs is the student’s bank account information.
The request may seem harmless enough—after all, someone is trying to give the student money, But beware, this is a common scam to attempt to get a victim’s personal or financial details.
According to the National Credit Union Administration, scholarship and financial aid scams may involve:
- Scammers calling to award a non-existent scholarship
- Fraudulent scholarship websites that are set up to collect email addresses or other details for future scams
- Financial aid services that charge well over $1,000 for actions that the student or their family can complete for free
Better Protect Yourself By:
Visiting the Federal Student Aid website provided by the Office of the US Department of Education for free resources to help find funds for college.
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