Don't Fall for Scholarship Scam
Wednesday, January 21, 2004
Several consumers have recently contacted us to say that they paid $1000 to a company called the College Funding Center that promised to help find scholarship opportunities. The company has apparently gone out of business, and the consumers have gotten absolutely nothing for their money. When a family is struggling to pay for tuition, books, room and board, the last thing they need is to lose $1000. Consumers who have made payments to the College Funding Center are advised to fill out our online consumer complaint form at www.oag.state.tx.us/consumer/complain.shtml. We will forward your information to the Federal Trade Commission. You can read the FTC's AMENDED COMPLAINT FOR PERMANENT INJUNCTION AND OTHER EQUITABLE RELIEF against the College Advantage, Inc. (dba the College Funding Center) at http://www.ftc.gov/os/2003/07/collegeadvcmp.pdf. |
While some companies may offer legitimate scholarship-finding services, be aware that rip-offs in this area are common. If you are considering doing business with a company, do not allow yourself to be pressured into a hasty decision. Do some research about the company (for example, ask a guidance counselor or inquire at the college or university you are considering attending). And remember that no legitimate company would promise or guarantee that they can get anyone a scholarship. Read more about this kind of scam, and how to avoid it, on the Federal Trade Commission's website at www.ftc.gov/scholarshipscams.