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Warn your child about financial aid scams. Some organizations imitate different types of college providers, using government- or professional-sounding names. These scams usually ask you for money, or ask you to attend seminars to learn more about their programs. Others tell your child that they’re guaranteed to win scholarships, or claim an outrageous success rate, such as “everyone wins.” Obtaining a scholarship should not cost money, should not require attendance at a seminar, and can never be guaranteed. Also, be cautious if a program requests unusual personal information, such as a bank account, credit card or Social Security number. And if the source does not offer a phone number or street address, or if you’re leery about one’s qualifications, it’s probably not a good idea to use its services.
Learn more about financial aid scams from the Federal Trade Commission.
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