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Stay Smart! Avoid Scholarship Scams

Stay Smart! Avoid Scholarship Scams

Dollars for Scholars: Tools to Reduce Education Financial Pain

Does higher education have you in higher financial pain? Look to Louisiana USA’s Education Loans. With terms up to 24 months, our Education Loans are available for tuition, fees and other educational expenses. 

Scholarships are also a vital tool to help keep your head and diploma above water. Unfortunately, they are also opportunities for scammers to take advantage of the unsuspecting.

The College Board advises students and parents to watch for these red flags when applying for scholarships:

  • A service offering “exclusive” information: No service has a monopoly on scholarship information.
  • One offering to do “all the work:” Any legitimate sponsor wants to hear from the student, not a third party.
  • Guaranteed scholarships: Every scholarship has parameters; “money-back” guarantees have fine print full of impossible stipulations.
  • Unsolicited offers: Notifications that “you’ve been selected” are almost always a scam.
  • Application fees: Charges for more than a postage or a nominal fee are suspect.
  • “Advance-fee” loans: Be suspicious of loan offers that require an upfront fee, and if you’re unsure, check with Louisiana USA for a professional opinion.
  • Seminars or candidate interviews: While some seminars are legitimate, they are often just a sales pitch for an aid or consulting service or a pricey private student loan.

As the saying goes, the only thing more expensive than education is ignorance. Before applying for a scholarship, make sure to take the time to conduct research. Scholarship information is available for free and there’s no reason to pay anyone to help find it. 

When scholarships aren’t enough, a low-cost Education Loan from Louisiana USA can help cover the gap. We’ll work with you to explore the best repayment options! Check out our rates and terms, or call us for more details. 

If you’re looking for extra room in your budget, ask about a Debt Consolidation Loan to reduce the burden of high-interest rate credit cards or other loans. Contact us today to reduce the financial pain of your education!

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