Where Do Most Scholarships Come From?

I'm a bit confused about how scholarships work. Are they mostly offered by the government, private companies, or the colleges themselves? Trying to figure out the best places to look for scholarship opportunities for my college applications.

In general, scholarships can come from multiple sources, including federal and state governments, colleges and universities themselves, private companies, and non-profit organizations.

That said, a considerable portion of scholarships are offered directly by the colleges and universities themselves, accounting for nearly 85% of all scholarship dollars awarded to students. These institutional scholarships can be based on a range of factors, such as academic merit, financial need, extracurricular involvement, leadership, or personal characteristics. Each college typically lists the scholarships they offer on their official websites. You only need to apply to the school to be considered for many of these scholarships; they will use your application to determine your eligibility.

State and federal governments also offer scholarships, though these are generally based on financial need and are often referred to as grants. The primary form to apply for these is the Free Application for Federal Student Aid (FAFSA). By completing the FAFSA, you are automatically being considered for federal grants like the Pell Grant, work-study, and loans. Some states also offer scholarships that you can apply for, often aimed at students staying in-state for college.

Private companies and non-profit organizations offer a wide range of scholarships as well. These scholarships often have specific requirements or are designed for students with particular interests, skills, identities, or backgrounds. They may require separate applications, and each will differ in its eligibility criteria, application process, and deadlines.

Remember, each scholarship will have its own selection criteria and application process, so it's crucial to read the eligibility and application instructions carefully. Start by considering what unique qualities, skills, or experiences you bring to the table and then search for scholarships that match those. And always beware of scholarship scams – a legitimate scholarship will never ask for payment to apply.