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Students: Great Tips for Finding a Scholarship
Special to The Truth
College is expensive, and
while families should focus on saving what they can,
students should not forget to apply to the wealth of
scholarships available nationwide.
Millions of scholarships,
worth billions of dollars are awarded annually. Beyond
in-house scholarships offered by the institutions
themselves, a number of federations and organizations offer
money to students with particular aptitudes, achievements
and aspirations.
“Scholarships can make a
significant dent in out-of-pocket college spending, but
finding and applying for them requires an up-front
investment of effort,” says Martha Holler, senior vice
president, Sallie Mae.
The college financing
experts at Sallie Mae are offering scholarship application
tips:
• Applying is worth the
time and effort. Even if the award is small, take the time
to apply to every scholarship for which you are eligible. It
is money that doesn’t have to be paid back, and it can be
used for textbooks, supplies or other college-related
expenses.
• Deadlines and details
matter. In the highly competitive scholarship arena, missing
a deadline or overlooking application requirements will
likely disqualify an applicant. Stay organized with a
spreadsheet that includes due dates and other important
information.
• Apply each year.
Approximately half of available scholarships are for
students already enrolled in college. Take the time to apply
annually to ease the year-to-year tuition burden.
• Impress the judges.
Something seemingly as small as a thank you note can have a
disproportionately large effect on how an application is
regarded. Be courteous and thoughtful throughout the
process.
• Shop around. Go deep.
There are scholarships for students who want to study
subjects as diverse as candy making, potato growing and
welding technology. Additionally, scholarships are available
for particular circumstances, such as community college
students transferring to four-year institutions, or students
who are the first in their family to attend college.
• Don’t spend. The goal is
to save money, not spend it. Guidance counselors and school
financial aid offices can recommend free, reputable
scholarship search sites, such as Scholarship Search by
Sallie Mae, which just added two million scholarships to its
database, offering access to more than five million
scholarships worth nearly $24 billion. Those who register
are automatically eligible to win the Plan for College
Sweepstakes, which awards $1,000 each month to a winner
selected at random.
• Continue to save and
plan. Landing a scholarship is just one component of being
prepared for college. Continue to set aside savings. Free
college planning tools are available online in Sallie Mae’s
College Planning Toolbox.
For more tips on how to
get started finding free money for college and for
information on saving, planning and paying for college,
visit www.SallieMae.com.
Spend some time
investigating all your college financing options.
Scholarships are an excellent way to supplement your savings
and other funding sources.
Courtesy StatePoint
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