The Better Business Bureau is warning students and their families to be alert to scholarship and financial aid scams that often promise money in exchange for upfront fees but ultimately deliver nothing.
These scams are commonly aimed at students who are still searching for ways to fund their college education.
According to the BBB, many schemes falsely offer scholarships, grants, or student loan forgiveness to exploit those in financial need.
In one version of the scam, fraudsters pose as representatives from government agencies, universities, or nonprofits, using words like “National” and “Federal” to sound official.
Victims are told they’ve received a scholarship or grant, often without applying, and are then asked to pay a one-time “processing…
