I'm starting to save money for college and exploring scholarships. Can anyone share any surprising tips or facts about saving for college or finding scholarships that aren't super obvious? It feels a bit overwhelming!
Firstly, kudos to you for starting to think about saving for college and finding scholarships. Financial planning is a hugely smart step!
While it's widely known that 529 plans are a popular option for college savings, what's less talked about is that they aren't just for tuition. The money in a 529 account can also be used for a range of qualified education-related expenses such as room and board, textbooks, and computers.
When it comes to scholarships, you may hear a lot about large merit-based scholarships, but don't overlook the smaller ones. There's less competition for these, and they can add up! Plus, often, these are more niche, and are provided by local businesses, clubs, and organizations in your community.
Another lesser-known fact is that your university's financial aid office can often help you find scholarships. Many schools have access to databases of scholarships and can alert you to new opportunities that fit your profile. It's well-worth letting them know that you're looking for financial assistance.
A surprising strategy to add to your toolkit involves your choice of which term to apply. For instance, you could consider applying for spring admissions, as some universities might have more scholarship money available during that cycle. It's not as common, but it's worth having a conversation with your prospective schools' admissions offices.
Finally, remember to keep your scholarship options open post-acceptance. There are lots of scholarships for current students that aren't available to high school students, so you'll want to keep searching even after your first year.
Overall, while saving for college and searching for scholarships can seem daunting, being proactive and exploring all your options can really go a long way!
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