If you’re a student who needs money to help pay for college, you should look into college scholarships (free money!) before making a beeline to apply for student loans (not free money!). This article is intended to help you learn more about what scholarships are, and help you find opportunities that are a good fit for you, so if it’s free money you’re after, keep reading! 

Scholarships are often considered the most effective form of financial aid for students, due to the fact that this money does not need to be paid back in any form. College scholarships can vary in amount, ranging anywhere from a few hundred dollars to tens of thousands of dollars. As scholarships get higher in amount, though, they tend to become more competitive, and therefore harder to win. If you do win a scholarship for college, these funds are generally applied directly to your tuition costs. However, depending on the rules of the specific scholarship program, scholarship money can sometimes also be used to help pay for several other aspects of your education, such as textbooks and materials to study abroad. 

When it comes to scholarships for college students, there are tons of different “types” of scholarships that you can apply for, based on your academic achievements, personal background, extracurricular interests, career goals, and more. You simply need to identify your niches and then start searching for scholarships in those areas. Here are a few examples of types of college scholarships that are out there:

Scholarships based on athletic or extracurricular achievement: For students who excel in a certain sport or extracurricular activity (think: debate, creative writing, art, etc), there are college scholarships out there to award you for your greatness! While these scholarships also may require you to submit your academic history or have a minimum GPA, many times, the focus of these opportunities tends to be showcasing your talent, passion, and ability in whatever extracurricular activity the scholarship program focuses on.

Scholarships for students of certain religions or ethnicities: Many organizations (such as the UNCF, HACU, and NAIF) provide college scholarships to students who identify as part of a specific religion, race, or ethnicity. While these scholarships are often based on merit, adding an additional eligibility layer such as “Must be of Italian-American heritage” or “Must identify as Jewish” essentially narrows down the eligible pool of applicants. By searching for scholarships that are specific to your identity in this way, you can hopefully start to find opportunities with fewer applicants, which will give you a better chance at winning if your application is strong!

Scholarships for students with certain levels of financial need: As one final example here, it’s important to clarify that all scholarship programs have different eligibility requirements when it comes to your level of financial need. Some programs don’t have any restrictions in this area, whereas other opportunities will require you to show proof (often through the FAFSA or other family financial forms) that you are in fact in need of money to help you pay for college. Oftentimes, financial need is not the sole factor in determining winners for any given scholarship, rather it is one eligibility requirement that a student must ensure they meet before being able to move forward in the application process.

So, we’ve discussed what a scholarship is, and some examples of types of scholarships that are out there. Now, let’s go through some tips to help you in your process for actually earning college scholarships! 

First, in order to maximize your chances of success, apply frequently and apply often. College scholarships can be found all year round (not just during the school year!) so make sure you’re setting aside time to search for these opportunities on a regular basis so you don’t miss out on programs that align with your interests and background. 

Second, instead of applying to two or three opportunities and waiting for a decision on those, apply for every opportunity that you find that you qualify for. The vast majority of scholarship programs do not make any exceptions for students who do not meet the specific eligibility requirements, so it is advised to not waste your time applying for scholarships that you are not eligible for. Check the requirements before beginning the application process to ensure that you meet all of the laid out requirements, not just the majority of them.

Finally, if a scholarship requires you to write an essay, it is crucial that you put your all into this piece of the application. Why? Well, the essay portion of the application is oftentimes the only place on your application where you have the opportunity to show your true colors (beyond your academic history on your transcript or your extracurriculars mentioned on your resume) and therefore stand out in the application process. By making your essays as unique and eye-catching as possible, you can increase your chances of getting noticed by the scholarship committee, which moves you one step closer to hopefully winning that opportunity!

Every year, we hear about the rising costs of higher education. While rising costs are unfortunate, luckily, there are thousands of scholarship programs out there that want to provide financial support to students in their quest to obtain a degree. If you haven’t already, get out there and start seeking out scholarships!