Several hundred thousand pupils and guardians are defrauded by scholarship scandals every year. According to several sources, the victims of these scams collectively lose thousands, if not millions, of dollars on an annual basis. Scam operations often emulate reputable government departments, grant-giving institutions, lenders for education, and matching scholarship programs, using official-sounding titles that include terms such as “National,” “Federal,” “Foundation,” or “Administration.”
What is a Scholarship Scam in Masters Program?
Scholarship scams are a type of cheating where college scholarships are promised to be offered by the fraud. Many scholarship schemes aim to get students and their families to pay money to the scam, but some scams involve fraud and identity theft.
It is most certainly a fraud if you have to spend money to get money. Never pay more than a postage stamp on getting scholarship details or qualifying for a scholarship.
How to know if a Graduate Scholarship you are applying for is a Scam?
Charges a fee
Many scholarship scams charge a fee of any kind. The cost can be minor and reasonable, such as an admission fee, processing fee, or tax, but no fee is paid for most of the valid scholarships.
Requests unusual information
Look out for scholarships that ask for a credit or social security number or credit card number. In order to check your identity or keep the scholarship, scholarships do not require your credit card number. If the scholarship is a charge for programs, scholarship providers are not obligated to disclose scholarships to the IRS.
Never believe an organization who advertises that they’re going to guarantee you a scholarship. Such companies may ask for a fee and can also make a money-back guarantee, but a scholarship will never be offered to you. Legitimate programs will never state that they promise that the scholarship will be earned.
Names of Company/ Scholarship
Be cautious if you see a scholarship program or business that uses phrases such as “official,” “national,” “government,” or other governmental or official-sounding terms. In order to cover up the scam, they are most likely attempting to appear official.
Sends a scholarship check to you
If it appears they “overpaid” you, do not give them a check for the excess. The scholarship check may look true, but after you deposit it, it is a forgery and will bounce. It’s possible your bank will bill you for the bounced deposit.
No one will promise you are going to win a scholarship!
Announces a high degree of success
Paid scholarship matching providers often state the scholarships are won by a high number of their users. But private scholarships are earned by just around 1 in 8 students and the total amount obtained is less than $4,000.
How to protect yourself from a Graduate Scholarship Scam?
When applying for scholarships, there are few rules you can adopt that will help you avoid getting scammed.
Ask yourself the question, “Is it too good to be true?”
Typically, whether an offer or scholarship sounds too good to be real, it is! If you think that something is just too good, then sit back and do a bit more research, as stuff generally seems too good to be real.
Never pay money for money
You should never send companies any cash to pay things like application costs, operation fees, or for any reason at all. It will be free to apply for valid scholarships and will not force you to pay fees to get money – it does not operate like that.
Talk with them
If you have a bid for a scholarship that calls for cash in advance or you want to make sure they are genuine, call them directly to make sure you can get hold of them by phone and ask for their physical address and whatever other details you want. True enterprises will be happy to distribute this data and scam companies will refuse to do so.
For eg, use Google to search their name for any checks on the corporation or agency that gives the scholarship (if anyone has been scammed by them, you would actually find their name somewhere about it online. Check the company directory of the nation for that organization, too.
At the end of the day, taking the resources to look for a scholarship yourself is the best advice that anyone might give to pursue a valid scholarship. Scholarships are not going to fall into your lap and there is no fast and simple way to pursue one – so just use your time wisely and follow the above rules and you should be good!