Hey all, does anyone know how you can get scholarship money? Is it just merit-based or do I need to dig deeper to find other sources? Are there strategies to maximize the amount of scholarship funds I could potentially get?
Sure, there are multiple ways to secure scholarships and it's smart to use a combination of strategies to maximize your potential funds. Remember, scholarship money can come from various sources, not just the colleges themselves.
1. Merit-Based Scholarships: These are awarded based on your achievements, talents, and interests. Schools often award academic scholarships to high-performing students, but there are also sport scholarships, art scholarships, and other specialized merit-based scholarships.
2. Need-Based Scholarships/Grants: These are awarded based on your family's financial situation. You will need to fill out the Free Application for Federal Student Aid (FAFSA) to be considered for most of these. Keep in mind with the recent shift from Expected Family Contribution (EFC) to Student Aid Index (SAI), this fills a gap in the old model by allowing for SAI to be as low as negative $1,500, thus potentially increasing the award you can receive.
3. External Scholarships: There are tons of organizations, both local and national, that offer scholarships. Examples can include community organizations, foundations, companies, and more. You might need to write essays or complete certain projects to be considered.
4. Work-study programs: After submitting your FAFSA, you might qualify for Federal Work-Study - a part-time job as part of your financial aid package.
To maximize your scholarship funds, apply for both merit- and need-based aid, and don't forget about external scholarships. Tailor your applications to your strengths, so if you excel in a certain subject or extracurricular, look for scholarships in that area. Finally, remember to apply early and often. The sooner you start applying, the more scholarships you can potentially receive.
Remember, applying for scholarships is an ongoing process. It's not just something you do alongside your college applications - continue looking for and applying for scholarships throughout your time in college. Since some scholarships are annual, you might find that you can apply and potentially earn them more than once.
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