SCAM ALERT: Beware Scholarships Scams

While it is summer time now, plenty of students are gearing up for college. That preparation may mean looking for scholarships to help pay for their education. But beware: scholarships are a new target for scammers.

Keep a couple things in mind as your favorite college-bound kid is wading through the process of scholarships.

First, legitimate college scholarships and financial aid do not require upfront fees.

If you see the terms "money back guarantee"or a "secret scholarship," consider those red flags.

If they ask for a checking account to confirm eligibility, ditch that so-called opportunity as well.

In lottery scams, you often hear you should not have to pay to win something. The same principle applies for money toward a college education.