Earning Scholarships is key in the college admissions process. Unfortunately, many are miseducated about scholarships. First, there are two categories of scholarships: Private and Institutional. Private scholarship funding comes from private sources like foundations, non-profits, organizations, etc. (Burger King, Gates Millennium, Coca-Cola Scholars). Institutional scholarship funding that comes from a college/university.
Secondly, there are two types of scholarships: Need and Merit based. Need is based on how much money you make and that is usually aligned with the FAFSA income standards. Merit is solely based on high academics (grades and test scores). Knowing which area you fall under allows you to explore the right scholarship opportunities. Check out this article on Forbes to learn more about how aid is determined via the FAFSA process.
Lastly, families think they have time. The key to succeeding in the scholarship process is starting early and the willingness to put in some sweat equity. There are scholarships as early as 3rd grade, so get busy.
Now that we’ve covered these 3 critical things, let me introduce you to an awesome platform for finding scholarships without your kids doing anything different from what they’ve always done. It’s really cool. Learn about Raise.me and earn money for college.