How to get a scholarship: A step-by-step guide
If you’re headed to college, you’ve got a lot of decisions to make, including how to pay for your education. A scholarship is a type of financial support that can help you pay for college or university costs like tuition, textbooks, and room and board.
A scholarship might cover your full tuition, or it might be given for a smaller amount. Scholarships usually don’t have to be paid back. But you may have to meet some requirements to keep them, like maintaining a certain GPA or playing on one of the school’s sports teams. Here’s an overview of how to find and apply for scholarships that match your goals and circumstances.
What you’ll learn:
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There are many kinds of scholarships, including merit- and need-based scholarships, athletic scholarships, student-specific scholarships, federal scholarships, and military scholarships.
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Resources like high school counselors, college financial aid offices, reputable online scholarship databases and local organizations could be helpful if you’re trying to find scholarships.
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Starting your search as early as possible could help you maximize your scholarship options.
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You may be able to use multiple scholarships to help pay for your education. You could also potentially combine scholarships with financial aid and other grants.
1. Learn how to find scholarships
Scholarships can come from lots of different sources, including colleges and universities, employers, religious groups, professional organizations, and community organizations. There are a lot of choices out there, but consulting these resources could help you narrow your options:
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High school counselors
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College financial aid offices
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Scholarship databases, like College Board’s BigFuture Scholarship Search
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Federal agencies and state departments of education
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Local organizations related to your field of study
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Religious- and ethnicity-based organizations
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Your employer, previous employers or parent’s employer
2. Research different types of scholarships
A single scholarship may not cover full tuition, but you might be able to combine scholarships, financial aid and other grants. Smaller scholarship amounts may also be used for books, room and board, or even things like study-abroad programs.
Here are a few it might help to know about:
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Merit-based scholarships: These scholarships are awarded based on academics. Some merit-based scholarships might take extracurricular activities into account too.
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Need-based scholarships: Need-based scholarships are granted to prospective college students based on financial need. They can come from different sources such as colleges and universities, nonprofit organizations, state and federal government grants, and more.
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Athletic scholarships: Athletic scholarships are usually year-long agreements arranged between the school and the athlete. And in most cases, they’re partial instead of full rides.
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Student-specific scholarships: Student-specific scholarships are awarded based on criteria set by scholarship providers. They tend to focus on a student’s background rather than academic achievement. These identity-based scholarships may support students with disabilities, community service participants, first-generation students and many other groups.
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Federal scholarships: Federal scholarships are awarded from government-backed agencies and can be need- or merit-based. They’re backed by government agencies like the Department of Transportation or the National Institutes of Health.
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Military scholarships: Military scholarships can be awarded to active-duty personnel, veterans, future military personnel or their relatives. They might be awarded through federal grants, nonprofit organizations and school Reserve Officer Training Corps (ROTC).
3. Review the scholarship application requirements and prepare
Application processes vary. Check the requirements and qualifications by referring to the scholarship’s website. Generally, you can apply through the website or by mail.
The materials you need to submit for a scholarship application can vary too. But you might need to include a:
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Personal statement or essay
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List of academic achievements and honors
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High school transcript
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Resume detailing employment history, community service or extracurricular activities
4. Apply early and regularly, even as you attend college
The Federal Student Aid Information Center recommends researching scholarships during the summer between your junior and senior years of high school. Some applications are due a year in advance, so starting your search early can maximize your options.
It’s also important to note that your eligibility for college scholarships doesn’t end once you enroll as a freshman. According to Sallie Mae, a private student loan originator, around 50% of scholarships are reserved for students who are already enrolled in college.
How to get a scholarship FAQ
Still curious about college scholarships? Here are answers to some common questions:
How is scholarship money paid?
Scholarship money can be paid in a few ways. It might be sent to the college or university, mailed as a check to the student or directly deposited into the student’s bank account. Some scholarships may also be reserved to only pay for tuition. Others can be used to subsidize other school-related expenses such as books, room and board, or meal plans.
Can I receive financial aid and a scholarship?
It’s possible to receive both financial aid and a scholarship to offset the cost of tuition. But scholarship money can affect the total financial aid granted. According to the Federal Student Aid Information Center, the total amount of financial aid a student receives can’t total more than the cost of attendance at a school.
If you receive both financial aid and a scholarship, you have to let the school know so they can recalculate your total financial aid package.
Key takeaways: How to get a scholarship
Winning a scholarship could help you avoid or lower student debt and achieve some of your big-picture financial goals for life after college. While you’re planning your financial future, it might also help to consider ways to start building credit while you’re in school. Learn how you can use a student credit card responsibly to earn rewards and build credit.
