Outside Scholarships
Now that college applications are completed, the next question is usually, “How are we going to pay for it?”
Most of the money you’ll get comes straight from the college …..those are the merit-based aid scholarships that you qualify for when you apply to the right “fit” of school. These scholarships are based on your class rank, GPA and SAT/ACT scores.
There are also “outside” scholarships that help students pay for their education. Unlike loans, they do not have to be repaid. Hundreds of thousands of these scholarships from several thousand sponsors are awarded each year. This sounds like at lot but to put it into perspective, remember the hundreds of thousands of dollars represent at best 3% of the cost of all college bound students. Generally, scholarships are reserved for students with special qualifications, such as academic, athletic or artistic talent. Awards are also available for students who are interested in particular fields of study, who are members of underrepresented groups, who live in certain areas of the country or who demonstrate financial need.
Remember, only 2-3% of money you’ll get from college comes from these “outside” scholarships, but they’re worth a look if you’re personally connected to them. Here are a couple of good places to start:
1. Your high school counselor is one of the best resources for local scholarships. Most have a running list of scholarships from your local Chamber of Commerce, Rotary Club, Kiwanis, Men’s Club, etc.
2. Don’t forget to ask the employers of Dad and/or Mom if they offer scholarships to the kids of their employees.
3. If kids are working over the summer, ask their employers if they offer scholarships.
4. Remember that each school district also has an Educational Foundation that generally offers scholarships to kids in that district and check with your house of worship to see if scholarships are available.
5. Also check the colleges’ websites too for special scholarships that might be available.
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