Aid Step 5: Financial Aid Options

— Scholarships —

 

About Scholarships:

• scholarships are available from many private and educational institutions. This type of financial aid does not have to be paid back.
  
  
• the more common form of scholarships are athletic and academic. However, there are a number of scholarships awarded for achievements in music, art, communications and by affiliation with private groups and associations.
  
  
• take note that many unfunded scholarships may be from your own local area — area businesses and associations.
  

 

Scholarship Search:

• you need to start early to find all available scholarships. Check your field of study, ethnic background, social and religious affiliations, parent's employment, family club memberships, and local businesses and clubs.
  
  
• beware of potential scholarship scams. A general rule to follow is, "if they request money from you in order to get money", they are likely a scam:
  
  detecting/reporting scholarship scams:
  www.ftc.gov/bcp
  more information on detecting scholarship scams:
  www.finaid.org/scholarships
  
  
  begin your scholarship search online
  
  

Scholarship Requirements:

• every program is different, so check early on what will be required and make sure you meet all deadlines.
  
  
• the scholarship may require an essay, written exam, or some demonstration/document of your eligibility
  
  
• most scholarships (including athletic) will require a minimum GPA. Failure to maintain your GPA level could forfeit your award.
  
  
• most scholarship funds will be sent to the college directly on your behalf.
  
  Scholarship essay editing resources:
  www.EssayEdge.com
  
  

 

Private Institutions:

• private organizations that offer scholarships or loans to members and their families who below to the organization
  
  
• institutions include churches, community groups, professional associations, hobby groups, and others
  
  see detail listing:
  www.finaid.org/otheraid/
  
  
• many businesses offer educational allowances to employees and their families — check with your parents' employee benefits department
  
  
• many financial organizations — banks, savings and loans associations, credit unions, etc. — offer private loan programs
  
  see Step 1:
  start the financial aid process