I must have landed on an Internet marketing list, because I receive so many e-mails pitching my chances to win a scholarship to an online college. Like: “Hey, mom, apply for a full-tuition scholarship, earn your degree and have a career!” Are these scholarships for real? — B.R.
A few people will win these scholarships, but the advertised financial-aid awards are really hooks cast by companies in the lead-aggregation industry. They’re marketing ploys.
Notice that virtually all the schools offering these scholarships are for-profit colleges. Higher-education experts tell me that on average, online for-profit colleges cost three times more than online nonprofit colleges.
Here’ the inside story. Lead-generating marketers require scholarship seekers to provide their personal information on a scholarship application — in reality, a “lead form.” The marketers aggregate the forms and sell them to participating schools at a price of up to $100 per qualified lead. It’s little wonder that you’re receiving so many scholarship pitches.