Financial Aid and Scholarshio 101
College can be costly but there are several ways to be able to pay for college without coming out of your own pocket to cover the costs. Apply for as many scholarships as you can, there is no limit to the amount of scholarship money you can collect. Trust it will be worth it in the end! Below you will find several scholarship links. This is not an all inclusive list of scholarship sites so continue to broaden your search beyond this page. Please read carefully and APPLY, APPLY, APPLY!!!
Financial Aid/Scholarships 101
Some definitions:
Financial aid: a catch-all term that refers to any money offered to a student to help cover costs associated with being a student. Financial aid can be made up of any combination of grants, loans, stipends, benefits, work study programs, or scholarships. Financial aid can come from many sources: local, state, or federal governments, college or universities, professional organizations, private charities, or individuals.
Grant: Any type of financial aid that doesn’t have to be repaid. Grants are usually, but not always, based on financial need.
Loan: Any type of financial aid that has to be repaid. Loans are available to both students and their parents, and must be paid back (usually with interest). Loans are based on financial need.
Scholarship: any type of financial aid used by a student towards the cost of their education. Scholarships are usually given based on some type of criteria: merit-based, need-based, or other criteria that reflect the values of the scholarship provider.
Merit based scholarships are given based on accomplishments or abilities: academic achievement, artistic or musical abilities, athletic performance, strong extracurricular or a strong record of community service would all be ways to earn a merit based scholarship. The most common type of merit based scholarships reward good grades in high school and on standardized tests, but there are many others!
Need based scholarships are based on the student and family’s financial record. These almost always require applicants to fill out the FAFSA to qualify for federal and state need based grants and loans.
FAFSA: (Free Application for Federal Student Aid): A form that students (with help from their parents or guardians) complete to apply and qualify for federal financial aid for college. It will calculate the estimated cost of attending college and the expected family contribution to determine the amount of money a student is eligible to receive in the form or grants or loans.
The FAFSA is available on October 1 of each year for students who will begin college that calendar year.
Parents or guardians should have their tax information to make it easier to apply for the FAFSA – the earlier the better!
FAFSA Completion Information
English Version
https://www.youtube.com/watch?v=Y8nfk5ApcQ4
Spanish Version
https://www.youtube.com/watch?v=IKrU-iKrqmU
Some tips for the scholarship application process:
Be aware of what else you need for a scholarship application to be complete: Some scholarships are just a short application. Others require multiple letters of recommendation, essays, photos, or other specific requirements. All applications have a list of what is needed for it to be complete. Pleased double-check that you have everything before mailing it or turning it into the Student Services office.
Pay close attention to deadlines - The easiest way to disqualify yourself from a scholarship is to not turn it in on time.
‘Postmarked by’ means it must be put in the mail by that date.
‘Due to Mr. or Ms. XXX by’ means it must be in Mr. or Ms. XXX office by the MORNING of that day.
‘Deadline’ with a date and a mailing address means you need to mail it in with enough time for it to be RECEIVED by that date. Plan on at least 3 days for a scholarship application to get there by mail.
Here are some other places to look:
Specific colleges or universities: All colleges offer need-based and merit-based scholarships specifically to their students. Look on their website – there is usually a ‘financial aid’ or ‘scholarships’ tab. If you can’t find anything, talk to the schools admissions counselor to get pointed in the right direction.
Your parents’ workplace: Many companies offer scholarships for children of employees who meet certain criteria.
Your church or other community organizations: Many churches, volunteer groups, or other community organizations offer scholarships to local students.
Websites:
CFNC.org
Fastweb.com
Collegeboard.com
When applying for scholarships, don’t apply for anything that has an application fee higher than $5.00. If you have to pay money to get money, it’s usually a scam. Avoid offers you receive promising you help with Financial Aid and Scholarships. This is a sales pitch, and they will expect you to pay them big money for their help.
Please let your Counselor know about ANY scholarships you are awarded – whether you choose to accept them or not. We want to keep track of your accomplishments!