(Many colleges explain their financial aid policies on their websites, but if you’re confused about how a specific college hands out its financial aid budget, you can ask the financial aid office. This is why it's critical to take the time to understand the different types of financial aid individual colleges offer. You’d be better off looking for a college that is known to award large merit scholarships. So, if you’re a valedictorian from a high-income family hoping for a merit scholarship, you won’t receive one at Ivy League schools, for example. That’s because everyone at these schools is a top student. For example, the highly elite colleges don’t offer academic scholarships at all, only need-based financial aid. Not all colleges offer equally generous scholarships. Underrepresented (students of color, first-generation, LGTBQ+, etc.).Geographic diversity (for regional representation).Academic (for GPA and/or standardized test scores).If you apply to the right college for your profile, you could be awarded a renewable scholarship for good grades, a sport or a special interest. Most state scholarships require residency, but not all do. Department of Education’s higher education agency map. In your scholarship search, check out your state financial aid program and the U.S.
Many state scholarships only work at public institutions (community colleges or universities), but some, like the Washington Opportunity Scholarship, can also be applied to private colleges. Even if a scholarship is need-based, like the Excelsior program in New York, it may include stiff academic progress requirements while in college. Many state scholarships require demonstrated academic achievement in high school, such as a certain GPA, standardized test scores and specific coursework. A few examples are Florida’s lottery-funded renewable Bright Futures Scholarship, Georgia’s Hope and Zell Miller Scholarships, New York’s Excelsior Scholarship, and Washington’s Opportunity Scholarship for specific fields.
The goal is to encourage eligible students to stick around after graduation to contribute to the state workforce, possibly in a high-need field like healthcare. Many states offer scholarships as incentives for resident undergraduate students to stay in-state for college. Two of the largest sources are state scholarships - funded by state governments - and institutional scholarships from colleges. Scholarships come from a variety of places.
The main thing is to read the fine print on eligibility and start applying early.
#Compare colleges grants scholarships awards need based free#
Sometimes scholarships include a need-based component and may require students to submit their Free Application for Federal Student Aid (FAFSA) to show qualifying income. But scholarships can be awarded for other attributes, such as an underrepresented background, leadership, music, sports, community service, a specific major or geographic diversity. Merit-based awards are often tied to academic achievement that means good grades, test scores or both. The big difference between the two is that grants tend to be need-based, while scholarships tend to be merit-based or interest-based. Grants and scholarships come from different agencies and institutions, including the federal government, state governments, colleges and private organizations. Scholarships and grants are types of free money, aka “gift aid” in college parlance, that don’t need to be repaid - unlike student loans. Scholarships versus grants: How are they different?
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