Scholarship Company Wants My Personal Information

June 17, 2015

Dear Cathy:

I was raised by my aunt and I desperately want to go to college but we don’t have a lot of funds.  I feel a scholarship company is asking me for too much personal information but they say they can guarantee me extra money for college.   What should I do?  Confused in Michigan

Dear Confused in Michigan:

Thousands of students and their parents are lured into scams claiming guaranteed money for college. No one can promise in advance that students will qualify for or be awarded a scholarship.

If you’re ever asked in a scholarship application, or by phone, to disclose confidential information such as your social security, credit card or bank account numbers, tear up that application or hang up the phone without hesitation.

This is the oldest identity theft scam in the book.  Once someone gets that personal info from you, they’re that much closer to becoming you and can apply for new credit cards in your name, can withdraw money from your bank account, and more.

No legitimate scholarship will ask for such information on an application.  There are plenty of scholarship information available online, in libraries and in books so you need to spend time conducting your own research.

Read Chapter 12 “How To Get Into College” in the book “Recession Survival Guide: How To Get Back Into the Driver’s Seat” – available as an e-book and paperback.