The scam: As today’s high school seniors prepare to become tomorrow’s college freshmen, it pays to beware of college scholarship ripoffs, warns the Federal Trade Commission.

How it works: According to the FTC, unscrupulous companies promise scholarships or amazing financial aid packages. Many use high-pressure sales pitches at seminars where they demand immediate payment, the FTC says. Some guarantee they can get scholarships on behalf of students or award them “scholarships” in exchange for an advance fee, the agency says. Most offer a money-back guarantee, the FTC adds, but make it impossible to get the refund; still others tell students they’ve been selected as “finalists” for awards that require an upfront fee. Sometimes, these companies ask for a student’s checking account to “confirm eligibility,” then debit the account without the student’s consent.

What to do: If you attend a seminar on financial aid, the FTC says: Avoid high-pressure sales pitches. Talk to a guidance counselor or financial aid adviser before spending your money. Ask for a list of at least three local families who’ve used the services in the last year. Be cautious about purchasing from seminar representatives who are reluctant to answer questions or who give evasive answers. Get information and “guarantees” in writing. No one legitimately guarantees grants.