Every student dreams about getting a scholarship and not having to carry the enormous student debt on their shoulders for many years after graduation. Colleges and career schools are expensive and receiving a scholarship can also mean a difference between going to college and not being able to. Living with that kind of debt can be overwhelming which is why schools, colleges, universities, religious groups, nonprofits, private companies, and other organizations decide to offer some students grants and scholarships.
The main thing to remember about grants and scholarships is that, unlike loans, they don’t have to be repaid. It’s like receiving a gift for being a student.
You should start searching for scholarships early as the process of applying can sometimes be time-consuming. You might miss a document or you might have to change something in your application, so it’s a good idea to start early.
What kind of scholarships are there?
There are numerous types of scholarships. Some will cover the entire study period while some are offered just for a couple of months. Some are merit-based and some are geared towards particular groups of people. Merit-based scholarships are earned by meeting certain expectations. Sometimes the standards are well-defined, sometimes not. These scholarships are often awarded because of a certain academic achievement, talent, trait, or interest. On the other hand, some scholarships are awarded because of financial need.
There are also some scholarships that are aimed at a certain group of people such as military families. Some scholarships are offered exclusively for women in order to support more women trying out in a particular field such as engineering. To find out more about saving money on college by getting a grant or scholarship, check out this article by Money and Bills.
How much money do you get?
Well, you receive a different amount of money with different scholarships. Sometimes they cover your entire tuition, sometimes just a year, or a couple of months. They can also come in the form of a one-time payment instead of multiple monthly payments. No matter the amount of money you’d receive, you should apply to everything you can because any kind of money can be useful during college.
Some scholarships are being sent directly to your school and cover your tuition and other school-related expenses, while other scholarships are sent to you directly. The scholarship provider will tell you everything you need to know prior to receiving your first scholarship.
How and when to apply?
You should start your application as soon as possible. However, you can send it once the institution that is offering the scholarship says that you can. There are almost always deadlines that you have to respect and you won’t be able to send any additional documents after the deadline.
Look for information about scholarships on your school’s website, federal agencies, foundations or community organizations, ethnicity-based organizations, and similar. Every scholarship is different and they have different demands so you should read about every scholarship’s requirements carefully.