College-bound students should apply for as many forms of gift aid as possible. If you’re truly needy, an academic star, or just plain lucky, your financial aid package may include federal and school-based grants or scholarships. However, the more outside scholarship applications you submit, the better your chances to win those cash prizes
You have to ASK for money. Scholarships rarely fall out of the sky. While getting scholarship money can be competitive and challenging, scholarships and grants are basically “free money.” Unlike loans, you don’t pay them back. Be sure that every application you submit is presentable: clean, spell-checked, and readable.
Invest some time. You should have started scouting scholarships in your junior or sophomore year of high school, but it’s never too late to begin. Set aside a realistic amount of time for a proper money hunt, including some hours writing essays and completing forms. Investigate what’s available, then select scholarship targets strategically. Will there be a thousand applicants or three? If you have a shot, apply. But even if it's a long shot, how can you go wrong for the price of a stamp or hitting the SEND button?
Your best scholarship opportunities are within your community or personal network. Does your parent’s or grandparent’s employer, professional organization, or labor union offer scholarships or tuition assistance? Consider all your family and community links to volunteer groups, ethnic societies, clubs, service industries, and religious and philanthropic organizations. Does your state have a grant program? Do you have a talent—sports music, or the arts—that offers scholarship opportunities? Get the details and apply.
Check out www.dollarsforscholarsne.org. New England Dollars for Scholars has 180 chapters in the six New England states. Each of these 180 local scholarship foundations provides valuable financial and academic support to local students. And check out scholarship opportunities from the Sallie Mae Fund at www.salliemaefund.org. Always be on the lookout for opportunities to apply!
Click for cash. The Internet is an amazing tool for scholarship searches. However, be wary of any scholarship search that charges a fee. Although a few fee-based searches may be legitimate, you should research scholarships at free sites like www.CollegeAnswer.com, where you can set parameters to narrow down your search. For more free information on student aid, visit the U.S. Department of Education at www.studentaid.ed.gov. But don’t get lost in the research phase. Actually APPLYING for specific scholarships is what generates cash.
Track all financial aid information. Keep a file of scholarship and loan information, such as criteria, amounts, contact person(s), and deadlines for applying. In many cases, a scholarship’s application deadline can be months before you need to file your Free Application for Federal Student Aid (FAFSA). Other times, a university may automatically award a merit- or need-based scholarship through the FAFSA process.
Finally, make yourself a strong candidate for winning scholarships. Keeping up your grades, taking challenging courses, and getting involved in activities will increase your chances of receiving gift aid.
Of course, there are no guarantees, but a strong scholarship push is an investment in you. If additional funds are needed, Nellie Mae, Massachusetts’ #1 provider of student loans, is ready with competitive rates and great benefits at www.nelliemae.com.
