If you're truly needy, an academic star, or just plain lucky, your financial aid package may include federal and school-based grants or scholarships. However, the more outside scholarship applications you submit, the better your chances to win those cash prizes.
You have to ASK for money. Scholarships rarely fall out of the sky. While getting scholarship money can be competitive and challenging, scholarships and grants are basically "free money." Unlike loans, you don't pay them back. Be sure that every application that you submit is presentable: clean, spell-checked, and readable.
Invest some time. You should have started scouting scholarships in your junior or sophomore year of high school, but it's never too late to begin. Set aside a realistic amount of time for a proper money hunt, including some hours writing essays and completing forms. Investigate what's available, then select scholarship targets strategically. Will there be 1,000 applicants or three? If you have a shot, apply. But even if it's a long shot, how can you go wrong for the price of a stamp or hitting the SEND button?
Your best scholarship opportunities are within your community or personal network. Does your parent's or grandparent's employer, professional organization, or labor union offer scholarships or tuition assistance? Consider all your family and community links to volunteer groups, ethnic societies, clubs, service industries, and religious and philanthropic organizations. Does your state have a grant program? Do you have a talent—sports, music, or the arts—that offers scholarship opportunities? Get the details and apply. Always be on the lookout for scholaships opportunities!
Go online. The Internet is an amazing tool for scholarship searches. But be wary of any scholarship search that charges a fee. Although a few fee-based searches may be legitimate, most free money truly is free.
- Check out Scholarship America's Dollars for Scholars site. Last year, 35,000 U.S. students were awarded over $29 million by over 1,200 chapters of Dollars for Scholars. Each chapter is community-based and volunteer-driven providing scholarships to local students. Seek out your local chapter and apply.
- See the scholarships from The Sallie Mae Fund at www.salliemaefund.org.
- Research scholarships at free sites like www.CollegeAnswer.com, where you can narrow down your search.
- For more free information on student aid, visit the U.S. Department of Education and use their Scholarship Search.
But don't get lost in the research phase. Actually applying for specific scholarships is what generates cash.
Track all financial aid information. Keep a file of scholarship and student loan information, such as criteria, amounts, contact person(s), and deadlines for applying. In many cases, a scholarship's application deadline can be months before you need to file your Free Application for Federal Student Aid (FAFSA). Other times, a university may automatically award a merit- or need-based scholarship through the FAFSA process.
Finally, make yourself a strong candidate for winning scholarships. Keeping up your grades, taking challenging courses, and getting involved in activities will increase your chances of receiving gift aid.
Of course, there are no guarantees, but a strong scholarship push is an investment in you. If additional funds are needed, visit out our student loan center for Nellie Mae's competitive rates and brilliant borrower benefits.