October 3, 2008, Newsletter Issue #136: The Big Lie Started With Scholarship Scams

Tip of the Week

You have heard the big lie before. Here it is: “Millions and millions of scholarship dollars go unused every single year.” The myth of the mysterious existence of fortune in scholarship money floating around waiting to be claimed has been perpetuated for 20 years, even though there is no factual evidence to back up the assertion.

While it is true that some private scholarships are not awarded in some years, it is usually because their requirements are very specific and there were no eligible individuals at that particular point in time.

The idea that there is a significant amount of scholarship money not being used is simply not true. This myth is believed to have originated with unscrupulous individuals and companies seeking to convince people to buy into their scholarship scams with false promises of guaranteed money.

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Jerry Mayo