Anyone looking at all the different ways to pay for college will quickly come to realize that help is out there, and lots of it. Many people are amazed at just how readily available financial aid for college is. It can be hard to understand why a company or individual would offer free money. There must be a hitch, right? Wrong! Soon after you begin looking for scholarships and grants to help you pay for your education, you’ll come across a number of organizations that charge an application fee.
The fee might be negligible, or it might be several hundred dollars. If this happens, put away your checkbook! Don’t be tricked by websites or ads that promise you a scholarship. In fact, the more firmly they insist that a guaranteed grant already has your name on it, the more firmly you should hold onto the money you have and they want. These ‘philanthropists’ are nothing but scam artists.
The truth is that nobody can ever guarantee a scholarship will be awarded before you’ve even applied for it. Reputable organizations and individuals who offer free money for college are not doing it to make a profit. They won’t tell you that the application fee is to cover their costs such as printing, website design, or employees. Anybody who asks for some of your money and promises to give you a big chunk of theirs in return is setting you up. The only one getting free money in such a situation is them.
by Mometrix Test Preparation | Last Updated: April 8, 2019