Financial Aid is a 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, colleges or universities, professional organizations, private charities, or individuals.
The FAFSA (Free Application for Federal Student Aid) is an online form that students (with help from their parents or guardians) complete to apply and qualify for federal financial aid (grants and loans) to help pay for college. It will generate a financial report that will be sent to each college or university you apply for, so that they can determine your estimated cost of attending college. The FAFSA report helps them determine your expected family contribution to decide how much money a student is eligible to receive in the form or grants or loans.
The FAFSA opens in December of each year for students who will begin college the next fall. Students AND parents/guardians each have an important part in the FAFSA process and should work together to complete it.
You can complete the FAFSA here: www.fafsa.gov
A few things to note:
this is a free process. If it asks for money to apply, you clicked on a scam website.
The FAFSA allows you to be eligible for federal grants and loans, but many colleges also use the FAFSA and it's results to determine other institutional (school specific) scholarships. Everyone is encouraged to complete the FAFSA, regardless of your family's financial situation.
Simplified step by step directions for completing the FAFSA linked here.
If you are planning to attend college in North Carolina, you will need to complete your Residency Determination in order to receive in-state tuition reduction.
You can complete that here: https://www.ncresidency.org/
The Residency Determination Service (RDS) was established to enable a student to use one residency determination for when applying to multiple North Carolina public colleges and universities and to demonstrate residency for state aid programs consideration at all (public and private) North Carolina colleges and universities
The scholarship search process can be overwhelming! There are many options. The best advice is to apply to as many as possible, and to work smart not hard - it's ok to re-use an essay or a letter of recommendation from your college applications!
NOTE: While you can do some good research ahead of time, 99.5% of scholarship applications are for students who will be attending college the next year. So feel free to plan ahead, but you will apply for scholarships the fall of your 12th or 13th year (depending on when you choose to graduate).
There are several types of scholarships - read below to find out more!
Need based scholarships are based soley on your family's financial situation and the cost of attendance that the colleges you are applying to. They will use information from the FAFSA to determine what need based scholarships you qualify for.
Merit based scholarships are given based on something you've accomplished - it could be grades, a job, community service, an essay you wrote, athletic performance, musical ability... the list goes on!
Most colleges and universities offer scholarships directly through the college for students who are applying to their schools. These are scholarships that can only be used at that school.
The process for applying for these college-specific scholarships will vary by college. There are some colleges that consider every student for scholarships based on the general admissions application that the student submits for admission. Other colleges have portals or specific scholarship applications that students have to submit separately from the application for admission. To see how the colleges you are applying to award scholarships, you should look on their individual websites. If you need to submit an application separately from the application for admission, make sure you follow the directions on their website and pay close attention to deadlines!
HERE is a comprehensive list of scholarship pages for every college in North and South Carolina!
These are scholarships that you can use at ANY college you go to. They are not tied to one college or university, and if you get the scholarship, they will send the money to the university you choose to attend. There are thousands of scholarships and you can choose to apply to as many or as few as you want to.
In addition to the resources below, make sure you are paying attention to any community groups or agencies you might have ties to. Sometimes scholarships will be offered through a parents' job, to members of a religious organization, a group you've been a part of (YMCA, Scouts, after school programs), or other agencies you have ties to. Other ways to search for scholarships are below:
Naviance:
CMS lists scholarships in Naviance. Students can access this list by clicking on Colleges and then Scholarship List. This is updated frequently, so continue to check back!
There are also good scholarship search engines built in to Naviance that students can use. Click on Colleges, and then Scholarship Search.
Other scholarship search engines are below - this is not an exhaustive list, but a great place to start!
As you start your search for scholarships, it might be useful to use a scholarship organizer to keep track of deadlines and requirements. There are two examples below you can copy or edit to make your own. These are just suggestions
College XPress Scholarship Organizer
Here are some general tips for applying:
Plan ahead! While you can't apply until your last year of high school, it's a great idea to research scholarships ahead of time so that you are prepared. Some of the large, national scholarships are due early in the fall and have essays and other requirements. It's easier to apply if you know what is expected.
Set aside a few minutes each week to dedicate to scholarship searching and applying. If you dedicate specific time to it, it will feel less overwhelming.
Communicate with teachers and other recommenders early, if possible. You don't want to ask a teacher for a letter of recommendation the day before it is due!
Don't disregard scholarships that have a smaller amount of money - if you get a few of these, it addes up quickly!
Pay attention to the size of the audience - large, national scholarships get thousands and thousands of applicants. If you meet the criteria for these, you should absolutely apply! But be aware of how many people you are competing against. Your chance or getting a smaller, local scholarship with less applicants is greater.
Pay close attention to the requirements - they are often specific! Don't waste time applying for something you'll be disqualified from.