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ABA: The American Bankers Association
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Get Smart About Scholarship and Student Loan Scams

  • Published September 6, 2022

College costs are rising. Looking for a loan? You're not alone. Be wary of the information you share, and where.

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Get Smart about Scholarships and Student Loan Scams Infographic

Get Smart About Scholarship & Student Loan Scams

College costs are rising. Looking for a loan? You’re not alone.

  • 84% is lost in scholarship scams every year 
  • 66% of first-year students receive financial aid of students apply using Free Application for Federal Student Aid (FAFSA)

Be wary of the information you share, and where.

  • Over $100 MILLION is lost in scholarship scams every year
  • 53% of students who try to get a private loan have reported receiving fraudulent loans Report Scholarship Scams. Source: FTC

Protect Yourself

  • Never share FAFSA information
  • Only solicit loans from companies identified by the Department of Education
  • Never pay to apply for college scholarships

Report Scholarship Scams

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