Students Beware: Scholarship Scams and Their Techniques

Campaign Aims to Educate Students and End Deceitful Practices

If you've ever heard, "The scholarship requires a small fee," or, "We need your credit card or account information to hold your scholarship," chances are you've been the victim of a scholarship scam.

During the months of January and February, millions of students will begin applying for financial aid, both through federal sources and scholarships. Some individuals and organizations have made it their business to deceive students and parents into paying for financial aid information and services that could easily be found at no cost.

To help students and families, ALL Student Loan, a nonprofit student loan lender, is promoting "College Financial Aid Scam" awareness. The campaign aims to educate students and parents on how to obtain valid and useful financial aid information, as well as how to spot the tell-tale signs of a scam.

ALL Student Loan staff is distributing materials to schools and community groups, and we have financial aid experts available who can help students or parents find valid, useful information. To obtain a campaign poster or information, write to reachingallyouth@allstudentloan.org or call (888) 271-9721.

About ALL Student Loan

ALL Student Loan (www.allstudentloan.org) is a nonprofit organization dedicated to serving the needs of students, families and schools by increasing affordable access to higher education.

Since 1980, ALL Student Loan has made more than $4 billion in affordable financing available to over 400,000 borrowers. In addition to affordable loan products and superior customer service, ALL Student Loan increases access to education by conducting free financial aid workshops for students and parents, supporting the work of other education-focused nonprofit organizations, and awarding scholarships.