Most students face very high college costs. Fortunately, along with financial aid and student loans, scholarships and grants are available to help students pay for their education.
Most scholarships and grants help students with special skills, talents, qualifications, or need. Examples include scholarships for academic, athletic, or artistic merit. Awards are also available for students who are interested in particular fields of study, are members of underrepresented groups, who live in certain areas of the country, or who demonstrate financial need.
Scholarships Overview
Scholarship awards range from a few dollars to full-tuition and expenses. Scholarships are offered by many organizations, including federal and state governments and private sources, such as employers, individuals, companies, high schools, colleges, and universities, states, religious groups, foundations, clubs, professional associations, and many more.
Scholarship eligibility ranges across broad areas of interest, background, and skills. Some examples of scholarship award areas include: academic performance, athletic skills, financial need, religious affiliation, minority status, heritage, community affiliations, strong interest and achievement in art, hobby, or other area.
Scholarship Requirements
Different scholarships have different eligibility and application requirements and use different criteria to select scholarship recipients. Most scholarships require some sort of essay, exam, or specific project as part of the application process. Programs may also specify how scholarship funds must be used, set time restrictions for disbursing the funds, or set a ceiling on qualifying family income. Usually, students need to meet specific requirements during the life of the scholarship to receive it in full.
Scholarship Tips
While each scholarship application is unique, it helps to have a base plan for working on applications. Try to find a few references and letters-of-recommendation you can use for multiple applications.
Apply to every award you qualify for, no matter how small the amount. Smaller scholarships are usually less competitive, so you have a better chance of receiving them. Do not apply for awards for which you do not qualify. It is a waste of time as there are more qualified applications than awards available.
In general, stay organized. Start early, know and meet application deadlines, make copies of everything. Focus your time and energy on the scholarships for which you are eligible. Don’t exaggerate grades, skills, or qualifications. Follow instructions exactly. Send in what is requested and proofread everything. Typos and missing materials can thwart a scholarship. Have a friend, parent, or teacher proofread each application.
Send your application by trackable shipping such as FedEx or registered mail.
Scholarship Essays
Most applications require an essay. These essays are usually shorter and take less time to write than college admissions essays. The essay is critical to winning a scholarship because it enables you to add more information and color to your background, skills, and, most important, goals. The essay is the best opportunity to make a good impression.
Good scholarship essays interest the readers. You want the reader to care about you, take an interest in your life and what your goals are. Essays are not easy to write, and they usually take a fair amount of time to get right.
Some essay pointers:
- Be original; be yourself.
- State clearly what your goal is — why this scholarship helps or has meaning.
- Have one thesis.
- Stick to the point.
Scholarship Scams
How can you tell if a scholarship offer is legitimate? Most organizations, groups, and schools do not require any money in exchange for guaranteed scholarships. Do not trust those that ask for a fee.
Scholarship Taxes
Some amount of a scholarship may be taxable. Funds awarded for tuition and required fees are tax-free, but other awards may require special tax-filing.
Scholarships and Financial Aid
Make sure to go over outside scholarship policies with the accepted school’s financial aid office. There can be a conflict between how much you benefit from winning a scholarship versus receiving need-based student aid.
Where to Find Scholarships
One of the most challenging aspects with scholarships and grants is actually finding those suitable to your needs or qualifications. With hundreds of thousands of opportunities out there, it is often difficult to narrow down those that apply to you or those you are interested in.
It helps to focus your search to make the most of your time. With scholarships located locally and nationally, start near home and expand your search outward.
Excellent sources for scholarships and applications include:
- High school guidance counselor
- Public library
- College aid offices
- Student’s future college
- Online scholarship searches
- U.S. Department of Education
- National organizations and large companies
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