What scholarship information do parents need to know?

Are there key pieces of information that parents should have about college scholarships to get started? I'd like to help my parents understand the process better as we search for opportunities.

Absolutely! Discussing scholarship possibilities with your parents is a great way to start the conversation about financing your college education. Here are some important fundamentals to remember:

1. Keep in mind that there are multiple types of scholarships: Need-based scholarships are provided based on the financial situation of the student's family, merit-based scholarships are given based on academic or athletic skills, and there are also unique scholarships for specific demographics or interests.

2. Scholarships are not just provided by colleges themselves but also by private organizations, non-profit groups, and companies. These scholarships can be used at any school, and are usually found through online databases like Appily or through your high school guidance counselor.

3. Deadlines are critical. Each scholarship will have its own application deadline. It's important to keep a calendar of due dates to ensure you don't miss out on any opportunities.

4. Applying for scholarships usually involves more than just filling out an application. Many scholarships require an essay or other supplemental materials, like letters of recommendation.

5. Many scholarships are renewable, meaning they can be awarded for multiple years. However, there are usually requirements to maintain the scholarship, such as a certain GPA.

6. Amounts can vary significantly. Scholarships can range from a few hundred dollars to full tuition.

7. Be aware of scholarship scams. Reputable scholarships don't require an application fee or guarantee a win in advance.

8. Each scholarship has its unique eligibility requirements. For example, you might need to be a resident of a certain state, or planning to study in a particular field.

9. If you receive a scholarship, it needs to be reported to your college as part of your overall financial aid package.

Remember that scholarships are just one piece of the financial aid puzzle. There’s also aid provided by the federal government (grants and loans), financial aid provided by each college, work-study programs, and more. Be sure to complete your FAFSA to qualify for federal aid.

Finally, keep in mind that searching for scholarships takes time and effort, but it’s free money for college that doesn’t need to be repaid, making it well worth the investment!