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Scholarships are an excellent way to finance college without needing to take out a loan. They can range in value from several hundred dollars up to several thousand.
Many scholarships are awarded based on academic merit, athletic accomplishment, or both. They may also be given in recognition of an individual’s interests, hobbies or club participation.
Merit-Based Scholarships
If your student doesn’t qualify for need-based scholarships or your family’s financial situation prevents coverage of college costs, a merit scholarship could be your best solution. These awards are based on academic and extracurricular achievements and typically don’t require repayment; they’re available to students at many colleges and often cover part of tuition expenses.
Gaining acceptance into a merit scholarship requires knowing what opportunities exist and how to apply. There are various avenues available, such as local organizations, private foundations, government agencies and professional associations. Understanding what each scholarship requires can make all the difference when competing for one.
Scholarships that offer the greatest opportunities are those based on high school grades and standardized test scores. This is your chance to demonstrate academic excellence and stand out from other students.
Remember, the more competitive an award, the larger amount of money you may receive. A $5,000 scholarship may seem like a small sum, but it could cover your full tuition and fees at an elite school.
It’s also worth noting that merit-based scholarships can also be used for living expenses. Depending on your needs and the terms of the award, you might be able to use the funds for textbooks, computer purchases, or even transportation.
Furthermore, you have the potential to negotiate the amount of your merit-based scholarship. This is especially true if you are applying to multiple schools.
For instance, if your top school offers you a 50% merit scholarship to cover tuition and fees, but your backup school gives you a full-ride scholarship, it may be possible for the latter school to increase their offer.
In addition to academic scholarships, there are also non-academic ones based on athletic performance, leadership roles or community involvement. While these tend to be less competitive than academic scholarships, they can still provide a great way to cover college expenses.
If you’re searching for a merit-based scholarship, begin by searching online for the specific award type available. Additionally, you can filter your search by major to see which colleges in your area offer specific scholarships.
Departmental Scholarships
Departmental scholarships can be a great way to supplement your financial aid package. Some are available to incoming freshmen, while others are awarded to current students based on criteria like academic merit or need. To find out about these opportunities, reach out to the financial aid office at your college or university.
The University of Texas at Austin provides undergraduate students with numerous scholarships and endowed prizes. Some of the more impressive awards are given to those students who demonstrate excellence in their chosen field or have achieved high GPAs. Most of these opportunities are open to those enrolled in at least 12 credits per semester.
To determine which scholarships are worth applying for, consult your admissions counselor or faculty member from your major. Alternatively, UTA provides numerous scholarship resources on its website, such as the UTA Scholars program.
Some of the most prestigious scholarships can be found in departments with large undergraduate populations, such as College of Liberal Arts and Sciences or School of Social Work. Unfortunately, these awards are highly competitive so early application is recommended for best results.
One of the more intriguing departmental scholarships is University’s Departmental Scholarships for Distinguished Scholars (SDSS). This award recognizes and rewards exceptional academic performance by students in College of Liberal Arts & Sciences or School of Social Work, with requirements similar to other departmental awards.
This program has a limited number of awards and is only open to students with a demonstrated need. However, you could get lucky and receive an impressive award that covers up to four years of your degree or five if you already have a bachelor degree on track! Plus, the money is paid directly into your account so budgeting for additional tuition costs doesn’t need to be a hassle!
Financial Need Scholarships
Scholarships are funds that can help cover some of the expenses associated with attending college. They’re typically given out by government agencies, colleges and nonprofit organizations on either merit or need basis.
Merit scholarships are typically given to students with an impressive academic record and high test scores. Some may require them to participate in extracurricular activities, community service projects or internships as part of their requirements.
Need-based scholarships are awards that take into account your family’s financial situation. They’re an effective way to make college more affordable for low income families. Most need-based scholarships require you to fill out the Free Application for Federal Student Aid, or FAFSA for short.
The FAFSA is an annual application that determines student eligibility for federal grants, scholarships and other forms of aid. It asks questions about your family’s income, assets and other financial details which are then used to calculate an expected family contribution (EFC) and determine how much assistance is necessary in meeting basic needs.
Once the EFC is determined, a college’s financial aid office subtracts that amount from your cost of attendance to determine how much money is necessary to cover tuition and other costs. Since this formula can change over time, it’s essential to stay abreast of both figures.
Unlike loans, you don’t need to repay these funds when you graduate. However, they may affect other forms of aid you receive so it’s essential that you discuss your needs with the financial aid office if you receive an outside scholarship or grant.
Additionally, many need-based scholarships require you to write an essay about your experiences with financial need and its effects on education. While these essays may be challenging to compose, they serve as a testament of how one has persevered despite facing hardship and continued success despite it.
Need-based scholarships can be an important component of your financial aid package, but they are not guaranteed for every year of college. If you receive a need based scholarship, make sure to fill out your FAFSA each year and notify your school so that any funds received can be deducted from other aid before other aid is applied.
Scholarships for Specific Majors
Scholarships for specific majors can be an excellent way to reduce college expenses. Students who meet certain eligibility requirements typically don’t need to repay the funds, with some being given in one lump sum before school starts and others being distributed over several semesters or years.
Finding scholarships for your major requires doing some research and exploring all available options. You can search online, ask other students, or visit your college’s financial aid office to gain more insight.
Scholarships are often listed on college websites, and local organizations may also provide financial aid for college. Organizations like Boy Scouts, Elks clubs, and other community-based groups often run scholarships for their members.
Some scholarships are awarded based on need, while others reward students based on academic performance or other criteria. It is therefore essential that you do your research and apply for as many scholarships as possible in order to maximize your chances of being selected.
For instance, students passionate about music could potentially qualify for scholarships that help cover the costs of lessons and other necessities. There are even scholarships available for college students interested in performing arts such as dance or theatre.
These are all fantastic ways to finance your college education and allow you to pursue your interests. However, it’s essential to remember that these scholarship opportunities tend to be more competitive than merit-based or departmental scholarships.
Another way to find scholarship opportunities for your college major is by checking the scholarship awards established by the department at your school. Departments that receive significant donations from alumni often have scholarship funds available for students pursuing certain degrees.
Some awards are exclusive to incoming freshman and sophomores, while others are open to all students. Scholarships like these can be especially helpful for students who have yet to decide their major or who plan on changing it later in their academic careers.
