How to Get the Desired Scholarship

Every student thinks about getting a scholarship but those who really try for it are few. There is no doubt that competition level is very high and numerous students apply for a single program but at least an application raises a hope of winning it.

The first step in getting a scholarship is to know what it is and how it will be gained. What is a scholarship? It is a financial aid provided to a student to let him/her study further without worrying about the cost of it. They cover the educational cost of a student. The answer to the question does not end here. It is necessary to know the different types of such financial grants available. There is no hard and fast rule to award a financial grant to students. Although every university or college scholarship is awarded on the base of individual rules and regulations decided by the board, but the main types of it are almost similar in every institution.

The first and the most renowned type are called the talent based grants. Such type of grant is only for those brilliant students who have performed exceptionally in their past studies. Therefore this section is reserved for the at top. The next category is known as need based grant. This sort of grant is awarded on the need basis of a student. The need base means that a student does not has a financial capability to meet the future cost of fees therefore the institution will bear the expenditures and will provide a free tuition. Then comes the athletic grants. They are for those students who were good at sports in their previous records. Students are also offered several grants if they had performed well in dramas, art, music and other similar activities.

Once you know the types, then comes the next question. How to get them? This question has no straight forward answer. The reason is that every college or university has its own rules regarding the process. Majority of the institutions now provide the latest opportunities over the internet and allow the students to apply for them over there. However there are still certain institutions which require you to visit their campuses and fill out an application form. Make sure you fill the form correctly other wise don’t expect to be awarded.

You know your category of the scholarship and you should apply for the relevant one.

National Scholarship: I Have to Pay for College

I Have to Pay for College… Part One: Student Loans

If you are like most high school graduates or thinking of going back to college, the prospect of having to pay for it can be overwhelming if you don’t have a lot of money saved. According to a survey completed in 2015 of 5,000 Americans by marketwatch.com, approximately 62% only had about $1,000 in savings, and another 20% didn’t even have a savings account. Additionally, the average cost of college tuition in America today according to collegedata.com for the 2015-2016 school year is $9,410 for in-state residents at a public college, $23,893 for out-of-state residents attending a public college, and $32,405 for private colleges. These costs do not include text books or living expenses if you are not going to be living at home or with family who can help support you. Finally, there are supplemental expenses to consider such as computers, lab fees, tutoring, etc. So, the big question is, how does a person pay for it all?

The answer is not simple; paying for college usually involves multiple strategies. Assuming you have nothing saved for college, the most obvious solution would be complete the FAFSA, or the Free Application for Federal Student Aid, with the United States Department of Education on their website. By doing so, you will find out if and what types of students loans you may qualify for. This is usually the best option if you have to borrow money to help pay for college, because interest rates are typically lower and the term of repayment is more flexible. However, you should only borrow money if no have exhausted all other options in paying for your education, because a large student loan debt upon graduation can be burdensome. Interest will continue to accrue on your student loan if you wait to start making payments, only adding to the total amount you owe and make paying back your loan even more difficult. Consider any type of loan as if in the same category as an emergency; don’t borrow the money unless you absolutely have to!

I Have to Pay for College… Part Two: Free Money

Have you ever heard the term, “nothing is ever free”? Well, “free money” for college such as scholarships and grants are essentially “free money”, with some other form of cost involved. For example, Fund for Thought requires that you complete and application and write an essay in order to be considered for a scholarship. The cost in this example would be the application fee ($20), and the time spent completing the essay packet. The “cost” is low compared to the possibility of receiving $2000 of “free money” towards college. Scholarships and grants are “free money” because you are not required to pay them back, they are an award for some sort of qualification or achievement.

You should apply to as many scholarships and grants as you can find. The best places to look are scholarship databases online, a high school guidance counselor, or the financial aid office of the university you will be attending. These places usually have extensive lists of current scholarships available, and can help if you have questions about the application. Additionally, local civic organizations, churches, and businesses will sponsor scholarships available to students in their area. Check your local newspaper and community announcements and you may find “free money” with little competition. The bottom line is that if you put in the time to search for scholarships and grants, the chances of receiving “free money” for college are greater.

I Have to Pay for College… Part Three: Scholarship Search

We wanted to elaborate on the scholarship search because there are so many resources out there, it can be a daunting task for the individual scholar. There are several different types of scholarships available, and be categorized by different attributes. We thought that it would be best to compose a list to help give you some ideas and direction when beginning your search.

1. scholarships for high school students

2. undergraduate scholarships

3. masters scholarships

4. national scholarships

5. international scholarships (Canadian scholarships, exchange student scholarships)

6. free scholarships

7. online scholarships

8. full ride scholarships

9. community service scholarship

10. company sponsored scholarships (Pepsi scholarship, Walmart scholarship, McDonald’s scholarship)

11. race/ethnic origin scholarships (native american scholarships, Hispanic scholarship fund)

12. area of study scholarships (journalism scholarships, law school scholarships)

13. scholarships in areas of need (teach scholarship, early intervention scholarship)

14. merit based scholarships based on academic or sports achievement

This list is by no means extensive, but the goal is to get you started. Receiving free money for college is possible for everyone. By applying to as many scholarships as you can, you will increase your chances of an award.

College Education – Scholarship Grants or Financial Aid

For some, going to college means spending lots and lots of money. And why is that? Mostly it is because of the high cost of college education and tuition fee, not to mention the everyday expenditures (food, transportation, board and lodging, pocket money, etc.) that the student must bear and the numerous miscellaneous fees that are accumulated. This is one of the major problems of today’s parents.

Let’s face it, college education is very expensive. That’s a fact. That is why it is very important for a parent to plan ahead their children’s education. Even those who are in the upper class of society are having difficult times once they sent their kids to college. That is why every parent these days are looking for college scholarship or college financial aid.

A college funding and scholarship program does not oblige students or the parent to reimbursement what was spent for the education of the student. There are two possible types of college funding and scholarship. The first type is based on the need, this type of funding and scholarship is granted to a student wherein the student and its family (as a whole) are unable to pay for the education. The second type is based on merit. This type of funding and scholarship is given to those students who excel in a certain field, for example are sport athletes. Also, student who excel in the academic field also fall under this type of college funding and scholarship.

There are also some instances wherein the two types of funding and scholarship are combined to make the financial aid process easier. Lots of parents and students are looking for this type of financial aid. Unfortunately, there are not enough college funding and scholarships these days to compensate the increasing number of students yearly.

There are some federal and state scholarship programs these days that a qualified student can avail. Below are just some of the federal and state scholarship programs that a student can apply.

Federal or National Pell Grants – this nationally funded program is aimed to provide assistance to qualified undergraduates that want to purse post secondary education. This type of financial aid is given to individuals who have not completed a baccalaureate degree. This type of financial aid provides students to avail subsequent financial assistance from the national government.

Federal Supplemental Educational Opportunity Grant (FSEOG) – a program that is intended for continuing undergraduate students that has unresolved financial need. Unfortunately, this type of financial assistance is limited and not all students can avail this type of financial assistance. These are only awarded to students who are qualified and this also depends on the availability of the finances of the concerned educational institution.

Another type of financial assistance that a student or a parent can obtain is through loans. However this type of financial aid must be paid back. However, the financial need of the student or student’s family must greatly be considered first before availing this type of financial assistance to prevent high interest rates.

Always bear in mind that college education grants and scholarships, funding and other types of financial assistances are very complicated and quite frustrating. Fortunately, college education is an excellent type of investment.