How do grants and scholarships for college work?

I'm trying to figure out how to pay for college and I've heard grants and scholarships can really help. Does anyone know the basics of how they work and how I can apply? Any specific ones I should check out?

Grants and scholarships are two types of financial aid that can greatly supplement the cost of attending college.

Let's start with grants. They are often need-based and do not need to be paid back. The most well-known one is the Pell Grant, administered by the federal government. Eligibility and amount are determined based on information you provide on your Free Application for Federal Student Aid (FAFSA), like your income and assets. Many states and colleges also offer grants, such as the Cal Grants for students attending colleges in California.

Scholarships, on the other hand, are awarded for a variety of reasons – academic merit, special talent, specific career goals, or even personal characteristics. They can be offered by colleges themselves or by external organizations.

As for applying, it's a different process for both. To be eligible for federal and state grants, you must complete the FAFSA. For scholarships, many have their own separate application process. Some may require an essay, recommendation letters, or an interview. College-specific scholarships typically use the information provided in the college application to determine scholarship eligibility, but it's always a good idea to check with each college's financial aid office to make sure you're not missing anything.

A good starting point for finding scholarships would be to check out the scholarships page on the CollegeBoard or Appily websites, where you can filter by eligibility criteria. No matter what, ensure you check the eligibility requirements carefully, as scholarships can be very specific in who they target.

Remember, never pay to apply for a scholarship, it's a red flag for a scam. Also, be sure to start early! The more scholarships you apply to, the more financial aid you're likely to secure. Finally, be aware that some scholarships are renewable (provided you meet criteria such as maintaining a certain GPA), and some are a one-time award only.