Getting Started with Scholarships

Introduction to Scholarships

Scholarships are a type of financial aid that can significantly ease the financial burden of a college education. They are often awarded based on merit, academic achievement, or financial need, providing students with free money to cover tuition, fees, and other education-related expenses. With many scholarships available, including merit scholarships, students can embark on a scholarship search using online resources like scholarship search engines or by consulting their high school counselor or college financial aid office. By applying for scholarships, students can reduce their reliance on student loans, making their college education more affordable and accessible. Whether you’re a high school student or already in college, exploring scholarship opportunities can pave the way for a brighter future.

While scholarships all have different requirements, there are certain things your student can do to help them set themselves up for success as they get started with scholarships.

Everything from maintaining a strong GPA, participating in school clubs, extracurricular activities, volunteering, and working can be beneficial, as they help your child stand out from the crowd by showing they are a well-rounded and dedicated individual.

Additionally, involvement in community service can significantly enhance a student’s scholarship application by demonstrating their commitment to giving back and their leadership skills.

Plus, some organizations, like the National Honor Society and even part-time employers, offer scholarships exclusively to their members or workers. By getting involved, your child may be able to apply for an award that doesn’t have a lot of competition or automatically qualify for no-strings-attached assistance.

One of the easiest resources to access when it comes to finding out information about reputable scholarships is college financial aid offices and high school guidance counselors.

These academic professionals have usually been working in their fields for a significant amount of time and typically have the inside scoop on a range of scholarship opportunities and additional information.

If your student knows where they will be going to college, the financial aid office is a particularly valuable resource, as they have information about any institutional awards (those limited to students going to that particular school) for which your child may qualify. These generally have less competition than certain well-known national scholarships, so your student’s odds of receiving an award may be higher.

Guidance counselors are usually well-connected in the local community, making it easier to identify local scholarships, and generally keep tabs on national-level awards too, which can be crucial for prospective applicants. They can be a great point of contact for high school students who haven’t selected a college yet, so it’s worth having your child coordinate some time with them.

The internet is a great resource when you are trying to locate scholarships or submit applications. Nearly every major organization that offers an award will have the details online, and likely accept applications electronically.

However, you do need to make sure your child is careful when they get started with scholarships online, as not all of the sources are reputable and some organizations that state they offer a scholarship are actually hosting something more akin to a sweepstakes, making them not worth your child’s time in the vast majority of cases.

Generally, legitimate scholarships will have very similar basic requirements. For example, they’ll frequently ask for an essay (written or video), portfolio, or similar demonstration of your student’s skills. They may also request transcripts, especially if the scholarship is merit-based, proof of acceptance to a college, or other formal documentation.

Before your child submits any information as they get started with scholarships, it’s wise to do a little research on the organization to determine whether it is legitimate. There are scholarship scams out there, so a bit of care today can save your student a serious headache down the road.

As your child begins researching scholarships, make sure that they explore options with big and small awards. While a $500 may not seem like much in comparison to tuition, every award counts. Plus, your child can win multiple scholarships, so numerous small wins can add up to real tuition savings!

To increase their chances of winning scholarships, students should start by researching and understanding the eligibility criteria and requirements for each scholarship. It’s essential to find scholarships that align with their academic achievements, interests, and career goals. A well-organized approach to the application process is also vital, including meeting scholarship deadlines and submitting all required documents, such as personal statements, letters of recommendation, and transcripts. Students should also ensure that they are applying for legitimate scholarships, avoiding any opportunities that may seem too good to be true or require an application fee. Furthermore, seeking guidance from high school counselors or financial aid advisors can provide valuable insights and help students navigate the scholarship search and application process. By staying organized, persistent, and informed, students can maximize their potential for securing scholarships that can help fund their college education.

If your child is reluctant to begin because they think using student loans for college is an easy solution to their cash flow problem, it’s important to remind them of the burden they create and how scholarships can help them attend college without debt. If you want more information about the potential drawbacks of student loans, check out:

And here are some sobering stats on student loan debt, including the fact that there are 44.2 million Americans with student loan debt.

Calculating the total cost of college (the TRUE cost of college, including books, gas, parking tickets, housing, food, etc.) with your child and then plugging the estimate into a student loan calculator can usually motivate them to apply.

Want to take it a step further? Calculate what their disposable income will be once they graduate and then deduct the student loan from it to show how little they will have left if they borrow that much. While we don’t want to unnecessarily scare any students, these are realistic assumptions and may help your child realize the consequences of student debt.

While not every scholarship asks for the same information, there are certain documents that should be kept handy in case they do. For example, family income information (such as what is found on your federal tax return) can be crucial if your child applies for need-based scholarships, and some scholarships may ask for a letter of recommendation. It’s important to carefully review the scholarship details to ensure all required documents are prepared and submitted correctly. Some scholarships may ask for FAFSA results. If that’s the case, here is the Department of Education’s list of documents you will need for FAFSA:

• FSA ID
• Social Security Number
• Drivers License Number
• Tax Records
• Records of untaxed income
• Records of assets (money)
• List(s) of the schools your student is interested in attending

For scholarships that ask about the student’s previous accomplishment, typically your child will find an option for attaching scanned documents to their application. This makes it critical that you save any awards they receive so they can be added to their applications as they get started with scholarships.