1 The Search for Scholarships 7:00 p.m. Mon., Oct. 28 GOALS : • Understand the basics about scholarships • Learn how to find scholarship opportunities • Know how to apply for awards • Maximize your potential for getting scholarships • Get your questions answered!
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1 The Search for Scholarships 7:00 p.m. Mon., Oct. 28 GOALS : Understand the basics about scholarships Learn how to find scholarship opportunities Know.
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1
The Search for Scholarships
7:00 p.m. Mon., Oct. 28
GOALS:• Understand the basics about
scholarships• Learn how to find scholarship
opportunities• Know how to apply for awards• Maximize your potential for
getting scholarships• Get your questions answered!
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a cramping and oppressive lack of
resources (i.e. money)
Definition of PENURY:
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SCHOLARSHIP BASICSCriteria, Types, & Sources
• Criteria: Need-based vs. Merit/Skill-based• Types:
Local / Regional / State / National Nomination-based / Open application Renewable / Non-renewable Contingency-based (dependent on GPA, service, etc…)
Could be terminated Could require payback (i.e. scholarship loans)
• Sources: Federal, State, Local Government Colleges/Universities Private organizations
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“Sticker Price” vs. “Out-of-Pocket Cost”
Students could have a lower or manageable “out-of-pocket” cost at a school with a higher “sticker price” because: Higher need will exist at a higher cost
school, and financial aid is proportional Less popular, less competitive, and smaller
schools may give more money Private schools might have more money to
give away Larger endowment schools give less merit
aid and more need-based aid Some schools guarantee loan-free
packages (some are “568” schools) – Davidson, Amherst, Williams
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What scholarships CAN and CAN’T do:
Scholarship money can: Lower your unmet need Decrease loan amounts Decrease the need for work/study Lead to a decrease in institutional
scholarships/grants
Scholarship money cannot: Diminish the EFC (Estimated Family Contribution),
unless that’s all that’s left of college costs Provide personal profit above the cost of
education (sum of awards cannot exceed college cost)
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More Scholarship Basics and Tips
• There is no easy road to getting scholarships• The more you apply for, the better your
chances (multiple “small” awards can add up!)• Beware of scams or marketing ploys
Avoid significant application fees or feeds paid to a scholarship search consultant, unless you truly have more money than time
Watch for red flags (“guaranteed” awards, award offers to colleges you haven’t applied to, etc….)