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Frauds and scams: remedies

and Many more..

Every year, several hundred thousand students and parents are defrauded by scholarship scams. The victims of these scams lose hundreds of crores financial aids because of intermediaries frauds and scams. Plenty such schemes operations often imitate legitimate government agencies, grant-giving foundations, education lenders and scholarship matching services, using official-sounding names containing words like "National, Foundation, or Administration."

Types of Scams:

  1. Application Fee: This is the most Common Scam asking for application fee of Rs 100Rs to 1000Rs. Overall, they were providing few students with few thousands Rupees. Pocketing, a Big money as application fee from 5000-10000 students.
    1. Always remember: Never Pay a Fee.
    2. Be cautious when they ask for the Fee.
    3. Check their website and consult other people
    4. Check their previous awardees lists.
  2. Guaranteed Scholarship: Legitimate organizations never provide the guarantee money. However, they provide the detail eligibility criteria.
    1. Check for the details about the opportunities.
    2. Always remember, never disclose your personal information with them, It can be misused.
  3. Scholarship Prize without application: Such Scams states name of Winners and asks to pay for disbursement fee. Even the winners have not applied for such schemes.
  4. Everyone is Eligible: Ignore such schemes or claims, as every scholarship providers have some eligibility criteria to select few from a pool of applicants. Such as Sports, Career interest, Cultural talent etc
  5. Education Loan Fee: they offer you a very low interest education loan, with a requirement of advance fee. Be cautious and do the homework before proceeding further.
  6. Through Scholarship Seminars: Many times, they conduct seminars and ask for the on-the-spot money for application and for their services. Always research the organization.
  7. Intermediary agencies Scam: To win a scholarship, you must submit your own applications, write your own essays and solicit your own letters of recommendation. There's no way to avoid this work. Never trust some person or agency who will apply for your behalf.
  8. Fraud Postal Application: They demand you to send some money through post and never provide anything in exchange. The victim applicant never realizes that he was cheated, thinking that, they simple didn.t win the scholarship.
  9. Time Sensitive Scholarships: First come first served basis for applications. However, for authentic scholarships, they provide a certain deadline for application.
  10. Except few direct benefit transfer scholarships from Government, in maximum cases, no one ask for your bank account. The best way to provide the scholarship is through the cheque on your name or will be sent to your college directly.  Providers do not need your bank details.
  11. Scholarships are supposed to give you money for college not for taking it away.

Guidelines to Protect Yourself: (or Verify the Schemes)

  1. Don't respond to unsolicited offers.
  2. Ask the organization how it got your name. If they got your name from a reputable source, verify it with the source.
  3. Ignore offers that involve time pressure. If the company demands an immediate response, ignore them.
  4. Trust your instincts. If you feel uneasy about an offer, don't spend any money until you've addressed your concerns. Your initial suspicious reaction to an offer is often correct.
  5. Keep good records. Keep photocopies of your correspondence with the company and the company's promotional materials and take notes during any telephone conversations.
  6. Scholarships are given to those who did something or have certain talent not for doing nothing or just borne winner.  Avoid such schemes.
  7. Notification by phone. If you have won a scholarship, you will receive written notification by mail, not by phone.
  8. Always remember, legitimate scholarships have many qualified applicants and they never extend offers to people, who are not searching for them. Be cautious.
  9. Too good to be True: Always be very careful for such schemes. And do consult with people and look for more information about the opportunity on internet.
  10. In General, no one should pay for more than the postage fee to apply for scholarships. Legitimate Foundation rarely charge applicants, even if they do, it is nominal.
  11. Never disclose your personal information such as Bank account number, credit card numbers etc information. They can use this information, in conjunction with your date of birth and the names of your parents, to commit identity theft and apply for new credit cards in your name.
  12. Avoid a newly-formed company: Most philanthropic foundations have been established for many years. If a company was formed recently, ask for references.
  13. Typing and spelling errors. Application materials that contain typing and spelling errors or lack an overall professional appearance may be an indication of a scam. Many scams misspell the word "scholarship" as "scholorship".
  14. If an organization is legitimate, then information such as a physical address or telephone listing for the company should be available and verifiable.

How to Find Legitimate Scholarship Opportunities

The good thing is that finding legitimate scholarship opportunities is quite easy. There are many well-known websites that provide searchable databases of available scholarships. You can search these sites by criteria such as academics, religious affiliation, race, gender, and so on to help you find a scholarship for which you may be eligible. Buddy4study is one of them.

When evaluating a website to determine if it is a legitimate source of scholarship information, ask these questions:

  • Is there an "about" page with clear information about the company or the web page?
  • Is there information about how the scholarship information is compiled?
  • Does the site ask you for financial information or other person details? (It shouldn't.)
  • Is the site regularly updated?
  • Does the site attempt to sell you anything? (It shouldn't.)

Besides the Internet, other valuable resources for finding scholarship opportunities include:

  • Government/Foundations Adverts on National Newspapers.
  • School's, college.s library or community library.

Make sure that the scholarship opportunities you find are legitimate ones so that you end up getting money for your education or talent, not losing money and winding up more in debt when you graduate. College will be a time of many lessons: Consider this the first one.