The average cost of tuition for Canadian post-secondary students is more than $6,000 a year. From textbooks to living on campus, to course fees, attending a post-secondary institution is expensive.
BBB says it’s crucial for students to do their homework when applying for scholarships and look out for these common sales pitches:
- “The scholarship is guaranteed or your money back.” In reality, no one can guarantee they will get you a grant or scholarship. The refund guarantee offers usually have many conditions or strings attached making it is almost impossible for consumers to get their money back.
- “You cannot get this information anywhere else.” Scholarship information is widely available in libraries, financial aid offices and often very conveniently on the internet.
- “You have been selected by a foundation to receive a scholarship.” If you have not entered a competition sponsored by the foundation, this claim is highly unlikely.
- “May I have your credit card or bank account number to hold this scholarship?” Never hand over your personal information. This is never a requirement for a legitimate scholarship offer and it is most likely a scam.
- “The scholarship will cost some money.” Legitimate scholarship offers never require payment of any kind. You will not be required to pay for financial assistance.
- “What is your Social Insurance number?” You should never share your Social Insurance or passport number over the phone. If you are asked to do so, ask why this information is required. It is highly likely this is a scam, so it is best to walk away.
- Only apply to scholarships, bursaries and awards you know and trust. Ensure to seek the assistance of the student financial aid office at your college or university to ensure you are correctly applying for scholarships and other offers.
For more tips that you can trust visit bbb.org.
