Listen weekdays from 1-3pm ET
(No audio? Try our help)
Recent shows | More media

Listen Live: Mon-Fri 1-3pm ET

Posted: 1:33 p.m. Monday, June 10, 2013

Finding Scholarship Money Without Being Ripped Off

  • comment(2)

There's a new warning from the Better Business Bureau about people who promise to have the inside track on scholarships and grants for college. I want to put out a special word of warning for parents of high school seniors who generally fall for these ploys.

Be especially wary of the promise that, "The scholarship is guaranteed or your money back." That's not gonna happen!

Another popular come-on one is, "We will do all the work." Do not believe anybody's pitch about free seminars that address how you can pay for college. The punch-line to these "free" events is all too often, "Hey, sign this contract and pay us X number of hundreds or thousands of dollars for help -- guaranteed."

Here's my advice:

  • If you want money, do the FAFSA. That's a no-brainer.
  • If you have not saved for your kid's college, don't have a case of the guilts and clean out your retirement. Priorities in life are tough to set and many times it's all about just trying to keep your head above water. Though paying for a child's education is wonderful and worthy, it's down the list when compared to saving for your own retirement.
  • Check for scholarship info. This is a legitimate source for scholarship info.

  • comment(2)