Scholarships in the college application process: What should I know?

Applying to college is already stressful, and I'm trying to find ways to pay for it. How do scholarships fit into the process, and are there any specific ones I should look out for?

Scholarships can be instrumental in reducing the financial burden of college, and they are available from a variety of sources, such as the federal government, states, colleges themselves, and private organizations. There are even scholarships dedicated to specific groups of individuals, such as those for first-generation college students, for students in specific majors, or for individuals from certain regions.

Scholarships can be merit-based or need-based. Merit-based scholarships are awarded due to academic, artistic, or other talents, while need-based scholarships are awarded according to your family's financial situation. Many scholarships fall somewhere in between, with both merit and need components.

It's important to start your scholarship search early, many have deadlines in the fall or winter of your senior year, although some even have deadlines as early as the end of your junior year. Some free and common search tools include Appily, the U.S. Department of Labor’s scholarship search tool, or your school college counseling office.

Also be sure to complete the Free Application for Federal Student Aid (FAFSA), as it will determine your eligibility for federal grants (which you won't have to pay back), work-study funds, and loans. Even some colleges and states will require the FAFSA for their own need-based aid or scholarships. There isn't an absolute deadline for the FAFSA, but earlier submissions could potentially have access to more aid.

On the college side, most colleges automatically consider students for institutional scholarships when they apply. Check with each college's financial aid office or on their website to understand how to be considered for these scholarships. Some colleges may require additional application materials or have earlier deadlines to consider students for their largest scholarships.

Be cautious of scholarship scams. Never pay a fee to apply for a scholarship and be wary of guaranteed scholarships, time-sensitive offers, or organizations asking for sensitive personal financial information, such as credit card or bank account numbers.

These are some general guidelines, and the process could look a little different depending on your specific situation. But remember every scholarship, no matter how small, can help reduce your college costs and potentially limit your need for student loans. It's definitely worthwhile to invest your time in searching and applying for scholarships.