Types of College Scholarships Available

I'm curious about the different types of scholarships available for college. Are there distinctions between them, like merit-based or need-based, and how do you find them? Any insider tips on where to look or who qualifies?

There are indeed many types of scholarships available for college, usually falling into the categories of merit-based scholarships and need-based scholarships.

Merit-based scholarships are awarded based on the student's talents or accomplishments, such as academic achievement, athletic prowess, or artistic ability. These scholarships can come directly from the colleges themselves or from private organizations. Colleges often have their own scholarship funds that they gift to students who meet certain criteria, like exceeding a certain GPA or excelling in a particular field. To find these, I suggest looking at the financial aid page on a college’s website, which often lists scholarship opportunities.

Need-based scholarships, on the other hand, are awarded based on the financial need of the student. This is determined through forms such as the Free Application for Federal Student Aid (FAFSA) and the CSS Profile. These forms generate a Student Aid Index (SAI), which colleges use to determine your financial need and the amount of aid you’re eligible for.

Some scholarships are also specifically for underrepresented groups or those with distinct categories, such as minority students, first-generation college students, students from a certain geographic region or even children of the company's employees, veterans, etc.

To locate these opportunities, you could start with your high school guidance counselor's office, as they often have information about local scholarships. Then check out scholarship databases and apps like Fastweb, Chegg Scholarships, and Appily.

Remember the golden rule in scholarship hunting is that you should never pay to apply to a scholarship. Also, while applying to as many scholarships as possible can increase your chances of getting them, you should also focus on fitting the criteria well rather than applying to every single one you see.

Because scholarships can significantly reduce the financial burden of college, it's critical to conduct thorough research and apply for as many scholarships as possible. Good luck!