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Get ready...if they haven't already arrived, they're coming! We're talking about those  

Scholarship

  and financial aid offers from fraudulent companies, guaranteeing that they can find you free scholarship money in exchange for an up-front "nominal" fee. What you'll really be offered is a scam, scam, scam!

These "nominal" fees can range anywhere from $50 to a few hundred dollars. In exchange for your money, you'll be sent a list of possible scholarship sources, claiming to be "guaranteed." A list that you, yourself, can compile for free... all it takes is a little time and research on your part!

One major problem with such companies is that the lists provided are often outdated and inappropriate. They may list 10 scholarships that no longer exist, have expired deadlines, or are work-study.

These lists are often outdated and inappropriate. To make matters even worse, the information you're often getting charged for is available-totally free-from your high school guidance office, in the reference section of libraries and bookstores, the financial aid office of your future school, and online.

Legitimate foundations are out there that will provide you with access to lists of scholarships and financial aid and even compare your profile to a database of scholarship opportunities and awards to see which ones you qualify for. The difference here is that these companies do not guarantee or promise scholarships or grants.

How to tell if a scholarship search company is bogus:

1 - "This scholarship money is guaranteed or your money back."
No one can guarantee that you'll get a grant or scholarship. Refund guarantees like this often have conditions or strings attached. Always read the fine print.

2 - "You can't get this information anywhere else."
This information is public knowledge; all you need to do is a little research.

3 - "May I have your credit card or bank account number to hold this scholarship?"
Don't ever give out personal information over the phone-get something in writing first.

4 - "We'll do all the work."
False-you must apply for scholarships and grants yourself. Don't be lazy!

5 - "The scholarship will cost some money."
Don't pay anyone who says they are "holding" a scholarship or grant for you; free money shouldn't cost a penny.

6 - "You've been selected by a 'national foundation' to receive a scholarship" or "You're a finalist in a contest" (one that you know you didn't enter!).
Don't send money to apply for a scholarship, check it out first. Make sure everything about it is legit.

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